Accenture plc (NYSE:ACN) Position Cut by Wealth Alliance

Wealth Alliance reduced its stake in shares of Accenture plc (NYSE:ACN) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,872 shares of the information technology services provider’s stock after selling 711 shares during the quarter. Wealth Alliance’s holdings in Accenture were worth $1,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sunpointe LLC raised its stake in shares of Accenture by 8.0% during the fourth quarter. Sunpointe LLC now owns 876 shares of the information technology services provider’s stock valued at $308,000 after purchasing an additional 65 shares in the last quarter. Cumberland Partners Ltd raised its stake in shares of Accenture by 62.7% during the fourth quarter. Cumberland Partners Ltd now owns 13,125 shares of the information technology services provider’s stock valued at $4,617,000 after purchasing an additional 5,060 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Accenture by 4.9% during the fourth quarter. Ieq Capital LLC now owns 46,737 shares of the information technology services provider’s stock valued at $16,442,000 after purchasing an additional 2,169 shares in the last quarter. Freedom Day Solutions LLC raised its stake in shares of Accenture by 5.9% during the fourth quarter. Freedom Day Solutions LLC now owns 10,140 shares of the information technology services provider’s stock valued at $3,567,000 after purchasing an additional 568 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Accenture by 14.2% during the fourth quarter. Private Advisor Group LLC now owns 38,049 shares of the information technology services provider’s stock valued at $13,385,000 after purchasing an additional 4,739 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now directly owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Up 0.8 %

NYSE:ACN opened at $390.72 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The stock’s 50-day moving average is $366.87 and its two-hundred day moving average is $355.57. The stock has a market cap of $244.51 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACN shares. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Jefferies Financial Group dropped their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price target 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.