Provident Trust Co. Sells 31,940 Shares of Accenture plc (NYSE:ACN)

Provident Trust Co. reduced its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,537,324 shares of the information technology services provider's stock after selling 31,940 shares during the quarter. Accenture makes up about 9.4% of Provident Trust Co.'s portfolio, making the stock its 4th biggest holding. Provident Trust Co. owned 0.25% of Accenture worth $540,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in shares of Accenture during the 3rd quarter worth approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture during the 3rd quarter worth approximately $30,000. POM Investment Strategies LLC boosted its stake 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 acquiring an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider's stock worth $35,000 after acquiring an additional 85 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACN has been the subject of several research reports. Morgan Stanley lifted their price target on Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Robert W. Baird reissued a "neutral" rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. StockNews.com raised Accenture from a "hold" rating to a "buy" rating in a report on Monday, January 13th. Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Finally, BNP Paribas cut Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and an average price target of $387.22.

Accenture Trading Down 5.3 %

Shares of NYSE ACN traded down $20.49 during trading on Friday, reaching $364.35. The company had a trading volume of 3,747,836 shares, compared to its average volume of 2,728,130. The company's fifty day moving average price is $367.48 and its 200-day moving average price is $356.12. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a market cap of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 EPS. The business's revenue was up 9.0% on a year-over-year basis. As a group, research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company's stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at $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. In the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company's stock.

Accenture Company 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.