Midland Wealth Advisors LLC Lowers Stock Holdings in Accenture plc (NYSE:ACN)

Midland Wealth Advisors LLC decreased its position in shares of Accenture plc (NYSE:ACN) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,024 shares of the information technology services provider’s stock after selling 287 shares during the period. Midland Wealth Advisors LLC’s holdings in Accenture were worth $1,416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACN. Morse Asset Management Inc purchased a new position in shares of Accenture in the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. lifted its holdings in Accenture by 62.2% during 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. purchased a new position in Accenture in the 3rd quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture in the fourth quarter worth $30,000. Finally, POM Investment Strategies LLC increased its position in shares of 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 acquiring an additional 34 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

Shares of ACN opened at $341.68 on Monday. 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 12-month low of $278.69 and a 12-month high of $398.35. The firm has a market cap of $213.82 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company’s 50 day simple moving average is $365.74 and its 200-day simple moving average is $358.64.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $3.27 earnings per share. As a group, equities analysts predict that Accenture plc will post 12.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ACN shares. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. 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 report on Monday, December 16th. Finally, Stifel Nicolaus reduced their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $388.96.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Accenture Company 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.