Verdence Capital Advisors LLC Sells 1,417 Shares of Accenture plc (NYSE:ACN)

Verdence Capital Advisors LLC decreased its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 17.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,613 shares of the information technology services provider's stock after selling 1,417 shares during the period. Verdence Capital Advisors LLC's holdings in Accenture were worth $2,326,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baldwin Wealth Partners LLC MA boosted 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 worth $22,314,000 after buying an additional 3,883 shares during the period. Davidson Trust Co. boosted 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 worth $812,000 after buying an additional 158 shares during the period. Schrum Private Wealth Management LLC boosted its holdings in shares of Accenture by 78.6% during 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 during the period. MQS Management LLC bought a new stake in shares of Accenture during the 3rd quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC raised its stake in Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider's stock worth $12,581,000 after purchasing an additional 14,724 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

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Accenture Price Performance

ACN stock traded down $0.16 during trading on Friday, reaching $341.68. 4,459,862 shares of the company were exchanged, compared to its average volume of 2,708,053. The company has a 50-day moving average of $365.74 and a two-hundred day moving average of $358.46. The company has a market capitalization of $213.82 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

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

Insiders Place Their Bets

In other news, insider Angela Beatty sold 375 shares of the company's stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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 insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price objective 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. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. UBS Group lifted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of Accenture from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $388.96.

Accenture 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.