Connable Office Inc. Sells 135 Shares of Accenture plc (NYSE:ACN)

Connable Office Inc. cut its stake in Accenture plc (NYSE:ACN) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,008 shares of the information technology services provider’s stock after selling 135 shares during the period. Connable Office Inc.’s holdings in Accenture were worth $2,465,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ACN. Swedbank AB grew its stake in shares of Accenture by 16.6% in the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after acquiring an additional 363,401 shares during the period. SteelPeak Wealth LLC grew its position in Accenture by 10.2% during the third quarter. SteelPeak Wealth LLC now owns 1,023 shares of the information technology services provider’s stock valued at $362,000 after buying an additional 95 shares during the period. JFS Wealth Advisors LLC grew its position in Accenture by 547.1% during the third quarter. JFS Wealth Advisors LLC now owns 3,158 shares of the information technology services provider’s stock valued at $1,116,000 after buying an additional 2,670 shares during the period. Financial Advocates Investment Management grew its position in Accenture by 5.0% during the third quarter. Financial Advocates Investment Management now owns 5,182 shares of the information technology services provider’s stock valued at $1,832,000 after buying an additional 246 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Accenture in the third quarter worth approximately $347,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 2.4 %

Shares of ACN opened at $348.28 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a market cap of $217.95 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24. 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’s fifty day simple moving average is $367.28 and its 200-day simple moving average is $357.56.

Accenture (NYSE:ACN) last posted 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 firm 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 business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.27 earnings per share. As a group, analysts expect that Accenture plc will post 12.73 EPS for the current year.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the 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 transaction, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley upped their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture 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.