Assetmark Inc. Sells 8,545 Shares of Accenture plc (NYSE:ACN)

Assetmark Inc. reduced its position in shares of Accenture plc (NYSE:ACN) by 10.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,895 shares of the information technology services provider’s stock after selling 8,545 shares during the quarter. Assetmark Inc.’s holdings in Accenture were worth $26,347,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the third quarter worth approximately $25,000. FPC Investment Advisory Inc. grew its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the fourth quarter worth approximately $30,000. Finally, POM Investment Strategies LLC boosted its holdings in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACN. Piper Sandler raised their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. UBS Group lifted 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. Finally, BMO Capital Markets lifted their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction 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 transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares in the company, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 over the last quarter. Insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.7 %

Shares of ACN opened at $348.27 on Thursday. The company’s fifty day moving average is $366.41 and its 200 day moving average is $358.30. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The stock has a market capitalization of $217.94 billion, a PE ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping 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 company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the business posted $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

About Accenture

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.