Accenture plc (NYSE:ACN) Shares Sold by Elk River Wealth Management LLC

Elk River Wealth Management LLC reduced its stake in shares of Accenture plc (NYSE:ACN) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 20,242 shares of the information technology services provider’s stock after selling 139 shares during the quarter. Accenture comprises 1.3% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Elk River Wealth Management LLC’s holdings in Accenture were worth $7,121,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ACN. Swedbank AB boosted its position in shares of Accenture by 16.6% during the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after acquiring an additional 363,401 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Accenture by 29.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,589 shares of the information technology services provider’s stock valued at $7,278,000 after purchasing an additional 4,734 shares during the last quarter. Segment Wealth Management LLC grew its stake in shares of Accenture by 0.4% in the 3rd quarter. Segment Wealth Management LLC now owns 42,984 shares of the information technology services provider’s stock valued at $15,194,000 after buying an additional 157 shares during the period. Blossom Wealth Management increased its holdings in shares of Accenture by 27.4% during the 3rd quarter. Blossom Wealth Management now owns 894 shares of the information technology services provider’s stock worth $316,000 after buying an additional 192 shares during the last quarter. Finally, Albert D Mason Inc. acquired a new position in Accenture in the third quarter valued at approximately $232,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Up 0.8 %

ACN stock opened at $390.72 on Thursday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company’s 50 day moving average price is $366.87 and its 200 day moving average price is $355.57. 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 firm has a market capitalization of $244.51 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating 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 net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $3.27 EPS. On average, equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ACN. Piper Sandler lifted their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Finally, UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.