Accenture plc (NYSE:ACN) Shares Sold by Davis Rea LTD.

Davis Rea LTD. reduced its position in Accenture plc (NYSE:ACN) by 25.4% during the fourth quarter, HoldingsChannel reports. The firm owned 27,604 shares of the information technology services provider’s stock after selling 9,410 shares during the period. Accenture comprises approximately 4.9% of Davis Rea LTD.’s portfolio, making the stock its 10th largest holding. Davis Rea LTD.’s holdings in Accenture were worth $9,711,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ACN. Baldwin Wealth Partners LLC MA raised its holdings in shares of 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 purchasing an additional 3,883 shares during the period. Davidson Trust Co. increased its position in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC raised its stake in Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after buying an additional 5,038 shares during the period. MQS Management LLC bought a new position in Accenture in the third quarter worth approximately $1,040,000. Finally, Concurrent Investment Advisors LLC grew its stake in Accenture by 70.6% in 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 during the period. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Performance

NYSE ACN opened at $356.96 on Friday. The company has a market capitalization of $223.38 billion, a PE ratio of 29.95, 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 quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a 50-day simple moving average of $367.64 and a 200 day simple moving average of $357.33.

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

Analyst Upgrades and Downgrades

ACN has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. BMO Capital Markets raised their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Jefferies Financial Group decreased 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. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

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.