Accenture plc (NYSE:ACN) Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc lessened its stake in Accenture plc (NYSE:ACN) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 140,099 shares of the information technology services provider’s stock after selling 1,351 shares during the period. Accenture comprises 4.5% of Stack Financial Management Inc’s portfolio, making the stock its 5th largest holding. Stack Financial Management Inc’s holdings in Accenture were worth $49,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. Morse Asset Management Inc purchased a new position in shares of Accenture during the third quarter worth approximately $25,000. FPC Investment Advisory Inc. boosted its stake in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture in the third quarter valued at approximately $30,000. POM Investment Strategies LLC boosted 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 in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Accenture during the 4th quarter worth $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal 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 transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.2 %

NYSE:ACN opened at $363.66 on Tuesday. Accenture plc has a 52 week low of $278.69 and a 52 week 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 stock has a 50 day moving average of $367.61 and a 200-day moving average of $356.99. The firm has a market capitalization of $227.58 billion, a PE 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 quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.27 EPS. Analysts predict that Accenture plc will post 12.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACN shares. JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Piper Sandler boosted their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. UBS Group upped their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research note on Wednesday, October 30th. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 price target 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.