Accenture plc (NYSE:ACN) Shares Sold by Csenge Advisory Group

Csenge Advisory Group cut its position in shares of Accenture plc (NYSE:ACN) by 29.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,196 shares of the information technology services provider’s stock after selling 915 shares during the period. Csenge Advisory Group’s holdings in Accenture were worth $773,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Accenture during the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture during the 3rd quarter worth $30,000. POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture during the 4th quarter worth $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In related news, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.4 %

Accenture stock opened at $387.99 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The business’s 50-day simple moving average is $365.29 and its 200-day simple moving average is $354.45. The firm has a market capitalization of $242.80 billion, a PE ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.27 earnings per share. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ACN. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Piper Sandler raised their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and raised their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Company Profile

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.