Accenture plc (NYSE:ACN) Stock Holdings Lessened by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its position in Accenture plc (NYSE:ACNFree Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,454 shares of the information technology services provider’s stock after selling 1,591 shares during the quarter. First Horizon Advisors Inc.’s holdings in Accenture were worth $22,674,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc bought a new stake in Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the 3rd quarter valued at about $30,000. POM Investment Strategies LLC lifted its position 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 purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Accenture in the 4th quarter valued at about $34,000. Finally, Berbice Capital Management LLC acquired a new position in Accenture during the 4th quarter valued at about $35,000. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Morgan Stanley raised their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their target price for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Check Out Our Latest Report on Accenture

Insider Activity

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were 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 in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 in the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Down 5.3 %

NYSE ACN opened at $364.35 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month 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 stock has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.41 and a beta of 1.24. The firm’s 50 day moving average price is $367.48 and its two-hundred day moving average price is $356.38.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 analysts’ expectations of $17.15 billion. During the same period in the previous year, the company posted $3.27 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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