Armstrong Fleming & Moore Inc Sells 51 Shares of Accenture plc (NYSE:ACN)

Armstrong Fleming & Moore Inc trimmed its stake in Accenture plc (NYSE:ACN) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,027 shares of the information technology services provider’s stock after selling 51 shares during the period. Armstrong Fleming & Moore Inc’s holdings in Accenture were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ACN. Swedbank AB increased its stake in Accenture by 16.6% in the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after purchasing an additional 363,401 shares in the last quarter. TCI Wealth Advisors Inc. acquired a new position in shares of Accenture during the third quarter valued at about $217,000. Autumn Glory Partners LLC increased its position in shares of Accenture by 39.4% during the third quarter. Autumn Glory Partners LLC now owns 7,817 shares of the information technology services provider’s stock worth $2,763,000 after acquiring an additional 2,209 shares in the last quarter. Orrstown Financial Services Inc. lifted its position in Accenture by 25.9% in the 3rd quarter. Orrstown Financial Services Inc. now owns 884 shares of the information technology services provider’s stock valued at $312,000 after acquiring an additional 182 shares in the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in Accenture by 8.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 19,001 shares of the information technology services provider’s stock valued at $6,921,000 after purchasing an additional 1,427 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. 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 company insiders.

Accenture Trading Down 0.2 %

NYSE ACN opened at $363.22 on Wednesday. The firm has a market capitalization of $227.30 billion, a PE ratio of 30.47, a P/E/G ratio of 3.23 and a beta of 1.24. The stock’s 50 day moving average is $367.73 and its 200 day moving average is $357.32. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. 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 (NYSE:ACN) last released 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 the consensus estimate of $17.15 billion. During the same period in the prior year, the firm earned $3.27 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ACN shares. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. UBS Group upped 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. Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Piper Sandler upped their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $387.22.

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.