First Horizon Advisors Inc. Sells 1,591 Shares of Accenture plc (NYSE:ACN)

First Horizon Advisors Inc. cut its holdings in Accenture plc (NYSE:ACN) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 64,454 shares of the information technology services provider’s stock after selling 1,591 shares during the period. First Horizon Advisors Inc.’s holdings in Accenture were worth $22,674,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ACN. Morse Asset Management Inc acquired a new position in Accenture during the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new position in Accenture during the 3rd quarter worth $30,000. POM Investment Strategies LLC lifted its position in 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 acquiring an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter worth $34,000. Finally, Berbice Capital Management LLC acquired a new position in Accenture during the 4th quarter worth $35,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

Shares of Accenture stock opened at $364.35 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year 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. The firm’s 50-day moving average price is $367.48 and its two-hundred day moving average price is $356.38. The stock has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ACN shares. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley upped their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $387.22.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction that occurred 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 approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last three months. 0.02% of the stock is owned by insiders.

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.