Semus Wealth Partners LLC Reduces Stock Holdings in Accenture plc (NYSE:ACN)

Semus Wealth Partners LLC cut its position in shares of Accenture plc (NYSE:ACN) by 36.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590 shares of the information technology services provider’s stock after selling 334 shares during the period. Semus Wealth Partners LLC’s holdings in Accenture were worth $208,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Morse Asset Management Inc acquired a new position in Accenture in the third quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC grew its holdings in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Accenture in the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of Accenture stock opened at $387.12 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The firm’s 50 day moving average is $366.33 and its two-hundred day moving average is $355.32. The firm has a market capitalization of $242.26 billion, a P/E ratio of 32.48, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACN. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. UBS Group lifted their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets increased their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $387.22.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last three months. 0.02% of the stock is currently owned by company insiders.

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.