Sentry Investment Management LLC Sells 420 Shares of Accenture plc (NYSE:ACN)

Sentry Investment Management LLC decreased its position in shares of Accenture plc (NYSE:ACN) by 14.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,583 shares of the information technology services provider’s stock after selling 420 shares during the period. Sentry Investment Management LLC’s holdings in Accenture were worth $909,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ACN. Swedbank AB grew its position in 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 acquiring an additional 363,401 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of 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 purchasing an additional 1,160 shares during the last quarter. Modera Wealth Management LLC raised 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 worth $2,264,000 after purchasing an additional 343 shares during the period. Inscription Capital LLC lifted 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 last quarter. Finally, Welch Group LLC boosted its position in Accenture by 7.5% during the third quarter. Welch Group LLC now owns 18,590 shares of the information technology services provider’s stock valued at $6,571,000 after buying an additional 1,305 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of recent research reports. 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. Morgan Stanley boosted their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Piper Sandler raised 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. BMO Capital Markets increased their price target 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. Finally, Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Trading Down 0.2 %

Shares of NYSE ACN opened at $363.66 on Tuesday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a 50-day moving average of $367.61 and a 200 day moving average of $356.99. The stock has a market cap of $227.58 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released 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 firm had revenue of $17.69 billion during 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 business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the business earned $3.27 earnings per share. As a group, sell-side analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Transactions at Accenture

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

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.