Norden Group LLC Lowers Holdings in Accenture plc (NYSE:ACN)

Norden Group LLC decreased its stake in Accenture plc (NYSE:ACN) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,181 shares of the information technology services provider’s stock after selling 593 shares during the quarter. Norden Group LLC’s holdings in Accenture were worth $4,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Baldwin Wealth Partners LLC MA boosted its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Davidson Trust Co. boosted its position in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after purchasing an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC raised its holdings in shares of Accenture by 78.6% during the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after acquiring an additional 5,038 shares during the last quarter. MQS Management LLC acquired a new position in shares of Accenture during the third quarter valued at approximately $1,040,000. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 2.4 %

NYSE:ACN opened at $348.28 on Friday. The firm has a market cap of $217.95 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The stock has a fifty day moving average price of $367.28 and a 200 day moving average price of $357.83. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. 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 (NYSE:ACN) last posted its quarterly earnings results 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the firm earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the firm’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 sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were 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 in the company, valued at approximately $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. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ACN shares. Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

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.