Wealth Alliance Has $1.71 Million Stock Holdings in Accenture plc (NYSE:ACN)

Wealth Alliance reduced its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,872 shares of the information technology services provider's stock after selling 711 shares during the quarter. Wealth Alliance's holdings in Accenture were worth $1,714,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new position in Accenture during the 3rd quarter valued at $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC increased its holdings in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after buying an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Accenture in the 4th quarter valued at $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider's stock valued at $35,000 after buying an additional 85 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACN. UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a report on Friday, December 20th. BMO Capital Markets boosted their price target on shares of Accenture from $390.00 to $425.00 and gave the company a "market perform" rating in a report on Friday, December 20th. Robert W. Baird reaffirmed a "neutral" rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. BNP Paribas lowered shares of Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 target price on the stock. in a report on Wednesday, October 30th. Finally, Piper Sandler upped their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.22.

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 232 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 8,915 shares of the company's stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm'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 transaction, the chief executive officer now directly owns 11,858 shares of the company's stock, 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. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is owned by corporate insiders.

Accenture Stock Down 5.3 %

NYSE ACN traded down $20.49 during trading hours on Friday, reaching $364.35. 3,747,836 shares of the company's stock were exchanged, compared to its average volume of 2,728,130. The company's 50-day moving average is $367.37 and its two-hundred day moving average is $355.77. Accenture plc has a one year low of $278.69 and a one year high of $398.35. 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 company has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24.

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 (EPS) for the quarter, topping 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 business had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $17.15 billion. During the same period in the prior year, the business earned $3.27 EPS. Accenture's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

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.