Pine Valley Investments Ltd Liability Co Sells 46 Shares of Accenture plc (NYSE:ACN)

Pine Valley Investments Ltd Liability Co decreased its stake in Accenture plc (NYSE:ACN) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,154 shares of the information technology services provider’s stock after selling 46 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Accenture were worth $4,979,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ACN. Swedbank AB boosted its position in shares of Accenture by 16.6% during the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after buying an additional 363,401 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Accenture by 4.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 25,853 shares of the information technology services provider’s stock valued at $9,139,000 after acquiring an additional 1,160 shares during the period. Modera Wealth Management LLC grew its position in Accenture by 5.7% in the 3rd quarter. Modera Wealth Management LLC now owns 6,406 shares of the information technology services provider’s stock valued at $2,264,000 after acquiring an additional 343 shares during the last quarter. Inscription Capital LLC increased its stake in Accenture by 3.9% in the third quarter. Inscription Capital LLC now owns 7,794 shares of the information technology services provider’s stock worth $2,755,000 after purchasing an additional 291 shares during the period. Finally, Welch Group LLC lifted its position in shares of Accenture by 7.5% during the third quarter. Welch Group LLC now owns 18,590 shares of the information technology services provider’s stock worth $6,571,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. BMO Capital Markets lifted their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. Eight equities research 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, Accenture has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Accenture Price Performance

NYSE ACN opened at $363.66 on Tuesday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The firm’s fifty day simple moving average is $367.61 and its two-hundred day simple moving average is $356.99. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $227.58 billion, a P/E ratio of 30.51, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.27 EPS. Analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

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.