Accenture plc (NYSE:ACN) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its stake in shares of Accenture plc (NYSE:ACN) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 57,575 shares of the information technology services provider’s stock after selling 225 shares during the period. Accenture makes up approximately 1.5% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 26th largest position. Valley Wealth Managers Inc.’s holdings in Accenture were worth $20,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Buckingham Capital Management Inc. grew its position in shares of Accenture by 9.3% during the fourth quarter. Buckingham Capital Management Inc. now owns 25,277 shares of the information technology services provider’s stock worth $8,892,000 after acquiring an additional 2,151 shares during the last quarter. Davidson Trust Co. grew its position in shares of Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after acquiring an additional 158 shares during the last quarter. BKM Wealth Management LLC grew its position in Accenture by 2.8% in the 4th quarter. BKM Wealth Management LLC now owns 8,056 shares of the information technology services provider’s stock valued at $2,834,000 after buying an additional 220 shares during the last quarter. Kestra Investment Management LLC grew its position in Accenture by 11.1% in the 4th quarter. Kestra Investment Management LLC now owns 8,066 shares of the information technology services provider’s stock valued at $2,837,000 after buying an additional 809 shares during the last quarter. Finally, GAM Holding AG purchased a new position in Accenture in the 4th quarter valued at $1,414,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 375 shares of the company’s 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 transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’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 value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 company insiders.

Analyst Ratings Changes

Several brokerages have commented on ACN. Jefferies Financial Group decreased their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. BMO Capital Markets lifted their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. UBS Group lifted their price target on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research note on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Down 0.4 %

Shares of NYSE:ACN opened at $387.99 on Tuesday. 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 1 year low of $278.69 and a 1 year high of $398.35. The stock has a market capitalization of $242.80 billion, a P/E ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. The stock has a 50-day simple moving average of $365.29 and a 200-day simple moving average of $354.45.

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, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion during 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 company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.27 EPS. Equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

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.