Accenture plc (NYSE:ACN) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC lowered its stake in shares of Accenture plc (NYSE:ACN) by 30.5% in the second quarter, HoldingsChannel reports. The firm owned 14,322 shares of the information technology services provider’s stock after selling 6,276 shares during the quarter. AE Wealth Management LLC’s holdings in Accenture were worth $4,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Accretive Wealth Partners LLC grew its position in Accenture by 2.3% in the 4th quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 48 shares during the last quarter. Aveo Capital Partners LLC increased its position in Accenture by 7.6% in the 4th quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock valued at $794,000 after acquiring an additional 160 shares during the period. 9258 Wealth Management LLC raised its stake in Accenture by 3.6% during the 4th quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $459,000 after acquiring an additional 46 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Accenture by 79.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock worth $881,000 after purchasing an additional 1,123 shares in the last quarter. Finally, TrinityPoint Wealth LLC raised its stake in shares of Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after purchasing an additional 125 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ACN shares. BMO Capital Markets lowered their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, June 21st. Jefferies Financial Group dropped their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. TD Cowen lifted their price target on Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. Barclays cut their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Finally, Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.41.

Accenture Stock Up 0.3 %

ACN opened at $336.22 on Monday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm has a market capitalization of $210.71 billion, a P/E ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24. The stock has a fifty day moving average of $332.01 and a 200-day moving average of $321.64.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The business had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 earnings per share. On average, analysts expect that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by company insiders.

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.