Midland Wealth Advisors LLC Lowers Holdings in Accenture plc (NYSE:ACN)

Midland Wealth Advisors LLC cut its stake in Accenture plc (NYSE:ACN) by 6.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,024 shares of the information technology services provider’s stock after selling 287 shares during the period. Midland Wealth Advisors LLC’s holdings in Accenture were worth $1,416,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Accenture by 1.8% in the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after purchasing an additional 471,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after acquiring an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Accenture by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after acquiring an additional 140,726 shares during the period. Amundi raised its holdings in shares of Accenture by 27.9% in the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after purchasing an additional 826,038 shares during the period. Finally, Swedbank AB lifted its stake in shares of Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACN shares. Robert W. Baird restated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Trading Down 0.0 %

NYSE ACN opened at $341.68 on Monday. 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 plc has a one year low of $278.69 and a one year high of $398.35. The company has a 50-day simple moving average of $365.74 and a 200-day simple moving average of $358.64. The firm has a market capitalization of $213.82 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.27 earnings per share. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on 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 owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last three months. 0.02% of the stock is owned by 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.