Prosperity Financial Group Inc. Sells 316 Shares of Accenture plc (NYSE:ACN)

Prosperity Financial Group Inc. lowered its stake in shares of Accenture plc (NYSE:ACN) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,684 shares of the information technology services provider’s stock after selling 316 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Accenture were worth $944,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in Accenture during the third quarter valued at about $25,000. FPC Investment Advisory Inc. grew its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Accenture during the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the fourth quarter worth about $30,000. Finally, POM Investment Strategies LLC boosted its position in Accenture by 64.2% during the fourth 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. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN opened at $327.79 on Wednesday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a market capitalization of $205.13 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The business’s 50-day moving average is $364.92 and its two-hundred day moving average is $358.63.

Accenture (NYSE:ACN) last issued its quarterly 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 return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the firm earned $3.27 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. Research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’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 value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Melissa A. Burgum sold 232 shares of the business’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 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 $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group cut their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. UBS Group increased their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Piper Sandler increased their price target on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.