Csenge Advisory Group Reduces Stake in Accenture plc (NYSE:ACN)

Csenge Advisory Group cut its position in Accenture plc (NYSE:ACN - Free Report) by 29.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,196 shares of the information technology services provider's stock after selling 915 shares during the quarter. Csenge Advisory Group's holdings in Accenture were worth $773,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA raised its holdings in Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider's stock worth $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Schrum Private Wealth Management LLC raised its holdings in Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider's stock worth $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC bought a new position in Accenture in the third quarter worth about $1,040,000. Concurrent Investment Advisors LLC grew its stake in shares of Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider's stock worth $12,581,000 after acquiring an additional 14,724 shares during the last quarter. Finally, M&G PLC grew its stake in shares of Accenture by 34.1% during the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider's stock worth $103,361,000 after acquiring an additional 74,438 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

Shares of ACN stock traded down $20.49 during trading hours on Friday, hitting $364.35. 3,747,836 shares of the company's stock were exchanged, compared to its average volume of 2,728,130. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $228.00 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.46 and a beta of 1.24. The firm has a 50 day moving average of $367.48 and a two-hundred day moving average of $356.12. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its 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. The business 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%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.27 EPS. Sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. BNP Paribas lowered Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 price target on the stock. in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Piper Sandler boosted their price target on Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded 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 note on Friday, December 6th. Finally, UBS Group upped their target price on Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $387.22.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company's stock, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. 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.