Edge Capital Group LLC Sells 95 Shares of Accenture plc (NYSE:ACN)

Edge Capital Group LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,462 shares of the information technology services provider’s stock after selling 95 shares during the quarter. Edge Capital Group LLC’s holdings in Accenture were worth $5,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the third quarter worth $25,000. FPC Investment Advisory Inc. grew its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter worth $30,000. POM Investment Strategies LLC grew its stake in shares of 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 purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the fourth quarter worth $34,000. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACN. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. BMO Capital Markets boosted their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. UBS Group boosted 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. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

Shares of NYSE ACN opened at $364.35 on Monday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. 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 company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50-day simple moving average is $367.48 and its 200 day simple moving average is $356.65.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate 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 net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.27 EPS. As a group, research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.