Wealthspire Advisors LLC Decreases Stock Holdings in Accenture plc (NYSE:ACN)

Wealthspire Advisors LLC trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,985 shares of the information technology services provider’s stock after selling 3,434 shares during the period. Wealthspire Advisors LLC’s holdings in Accenture were worth $30,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ACN. Morse Asset Management Inc bought a new position in Accenture during the third quarter valued at $25,000. FPC Investment Advisory Inc. grew its holdings 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 purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Accenture during the third quarter valued at $30,000. POM Investment Strategies LLC grew its holdings 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 valued at $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Accenture in the fourth quarter worth $34,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred 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 sale, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the 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 sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % 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. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock opened at $364.35 on Friday. 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 simple moving average is $367.48 and its two-hundred day simple moving average is $356.38. The stock has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.27 EPS. Analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ACN shares. BMO Capital Markets raised their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Morgan Stanley raised their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.