Prentice Wealth Management LLC Has $620,000 Holdings in Accenture plc (NYSE:ACN)

Prentice Wealth Management LLC boosted its holdings in Accenture plc (NYSE:ACN) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,763 shares of the information technology services provider’s stock after purchasing an additional 103 shares during the period. Prentice Wealth Management LLC’s holdings in Accenture were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morse Asset Management Inc bought a new position in shares of Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in Accenture during the third quarter valued at approximately $30,000. POM Investment Strategies LLC increased its position 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 purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture during the 4th quarter worth approximately $34,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. 0.02% of the stock is owned by company insiders.

Accenture Stock Down 5.3 %

Shares of ACN opened at $364.35 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm’s 50 day moving average is $367.48 and its 200-day moving average is $356.12. The stock has a market capitalization of $228.00 billion, a PE ratio of 30.57, a P/E/G ratio of 3.46 and a beta of 1.24.

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 firm 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 company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $3.27 EPS. Equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued 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 a consensus target price of $387.22.

Accenture 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.