Armstrong Fleming & Moore Inc Lowers Stake in Accenture plc (NYSE:ACN)

Armstrong Fleming & Moore Inc reduced its stake in shares of Accenture plc (NYSE:ACN) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,027 shares of the information technology services provider’s stock after selling 51 shares during the period. Armstrong Fleming & Moore Inc’s holdings in Accenture were worth $361,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new stake in shares of Accenture during the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. raised its position in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Accenture in the 3rd quarter worth approximately $30,000. POM Investment Strategies LLC grew 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 purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter valued at approximately $34,000. 75.14% of the stock is currently owned by institutional investors.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was 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 represents a 13.85 % 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 valued at $8,316,190 over the last 90 days. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Down 0.2 %

Shares of ACN stock opened at $363.22 on Wednesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The stock has a market cap of $227.30 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.23 and a beta of 1.24. The company’s 50-day moving average price is $367.73 and its 200-day moving average price is $357.32. 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 announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the firm earned $3.27 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Analysts Set New Price Targets

ACN has been the topic of a number of research analyst reports. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Jefferies Financial Group dropped their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler upped their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets raised their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average 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.