Accenture plc (NYSE:ACN) Position Lessened by Amalgamated Bank

Amalgamated Bank decreased its stake in Accenture plc (NYSE:ACN) by 2.4% during the 4th quarter, HoldingsChannel reports. The firm owned 122,959 shares of the information technology services provider’s stock after selling 2,998 shares during the period. Amalgamated Bank’s holdings in Accenture were worth $43,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Morse Asset Management Inc bought a new stake in shares of Accenture in the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. raised its stake 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 valued at $28,000 after acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the 3rd quarter valued at $30,000. POM Investment Strategies LLC raised its stake in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Accenture during the 4th quarter valued at $34,000. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated 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 directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACN. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research note on Wednesday, October 30th. Finally, UBS Group boosted their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture Stock Performance

Shares of ACN stock opened at $363.66 on Tuesday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $227.58 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 3.23 and a beta of 1.24. The stock’s fifty day simple moving average is $367.61 and its 200-day simple moving average is $356.99.

Accenture (NYSE:ACN) last released its quarterly earnings data 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 firm 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 business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.27 earnings per share. On average, sell-side analysts predict 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.