Cypress Capital Group Trims Holdings in Accenture plc (NYSE:ACN)

Cypress Capital Group lowered its holdings in Accenture plc (NYSE:ACN - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,568 shares of the information technology services provider's stock after selling 1,161 shares during the period. Accenture makes up 1.0% of Cypress Capital Group's holdings, making the stock its 24th biggest holding. Cypress Capital Group's holdings in Accenture were worth $8,291,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new position in Accenture in the third quarter worth approximately $25,000. FPC Investment Advisory Inc. lifted its stake in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Accenture in the third quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the fourth quarter worth approximately $30,000. Finally, POM Investment Strategies LLC lifted its stake in Accenture by 64.2% in the fourth 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 last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 4,750 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now directly owns 20,526 shares of the company's stock, valued at $7,446,422.28. This represents a 18.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at $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. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

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Accenture Stock Performance

ACN traded down $0.16 during trading on Friday, hitting $341.68. The stock had a trading volume of 4,459,862 shares, compared to its average volume of 2,703,785. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $213.82 billion, a P/E ratio of 28.66, a PEG ratio of 3.23 and a beta of 1.24. The company's 50-day moving average price is $365.74 and its 200 day moving average price is $358.27. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35.

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

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. 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 research report on Thursday, December 19th. UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Robert W. Baird restated a "neutral" rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $388.96.

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.