Personal CFO Solutions LLC decreased its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 47.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,011 shares of the information technology services provider's stock after selling 5,480 shares during the quarter. Personal CFO Solutions LLC's holdings in Accenture were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider's stock valued at $22,314,000 after acquiring an additional 3,883 shares in the last quarter. Davidson Trust Co. lifted its holdings in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock valued at $812,000 after acquiring an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC lifted its holdings in Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider's stock worth $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC acquired a new position in Accenture in the 3rd quarter worth $1,040,000. Finally, Franklin Street Advisors Inc. NC lifted its holdings in Accenture by 126.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider's stock worth $14,090,000 after buying an additional 22,391 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.
Insider Transactions at Accenture
In other news, insider Angela Beatty sold 375 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares of the company's stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company's stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ACN. Wolfe Research upgraded 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. Piper Sandler boosted 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. BMO Capital Markets boosted their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a "market perform" rating in a report on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $388.96.
Get Our Latest Report on Accenture
Accenture Price Performance
NYSE ACN opened at $341.68 on Friday. The company has a 50-day moving average price of $365.74 and a two-hundred day moving average price of $358.46. The stock has a market cap of $213.82 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.27 EPS. Analysts forecast that Accenture plc will post 12.73 EPS for the current year.
Accenture Profile
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Free Report)
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.
Further Reading
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