Accenture plc (NYSE:ACN) Holdings Decreased by Bedel Financial Consulting Inc.

Bedel Financial Consulting Inc. trimmed its stake in shares of Accenture plc (NYSE:ACN) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,178 shares of the information technology services provider’s stock after selling 71 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Accenture were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in Accenture during the third quarter worth approximately $25,000. FPC Investment Advisory Inc. raised its stake in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the 3rd quarter worth $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture in the 4th quarter worth $30,000. Finally, POM Investment Strategies LLC raised its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. 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 90 days. 0.02% of the stock is owned by insiders.

Accenture Trading Down 1.1 %

NYSE ACN opened at $344.57 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The firm’s fifty day simple moving average is $366.99 and its 200-day simple moving average is $358.24. The company has a market capitalization of $215.63 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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

Analyst Ratings Changes

ACN has been the topic of several research reports. Morgan Stanley boosted their price target 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. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, BMO Capital Markets boosted their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

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.