Assetmark Inc. Trims Stock Holdings in Accenture plc (NYSE:ACN)

Assetmark Inc. decreased its holdings in Accenture plc (NYSE:ACN) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,895 shares of the information technology services provider’s stock after selling 8,545 shares during the period. Assetmark Inc.’s holdings in Accenture were worth $26,347,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ACN. Baldwin Wealth Partners LLC MA grew its stake in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after acquiring an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its stake in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after acquiring an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC grew its stake in Accenture by 78.6% during the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after acquiring an additional 5,038 shares in the last quarter. MQS Management LLC purchased a new position in Accenture during the third quarter valued at approximately $1,040,000. Finally, Concurrent Investment Advisors LLC grew its stake in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.7 %

NYSE:ACN opened at $348.27 on Thursday. The company has a fifty day moving average of $366.41 and a 200 day moving average of $358.30. Accenture plc has a 52 week low of $278.69 and a 52 week 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. The firm has a market capitalization of $217.94 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the business posted $3.27 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACN has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus cut 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 target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their price target 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. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Insiders Place Their Bets

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value 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 approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

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.