Simplicity Wealth LLC Sells 4,530 Shares of Accenture plc (NYSE:ACN)

Simplicity Wealth LLC cut its holdings in Accenture plc (NYSE:ACN) by 73.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,645 shares of the information technology services provider’s stock after selling 4,530 shares during the period. Simplicity Wealth LLC’s holdings in Accenture were worth $579,000 at the end of the most recent reporting period.

Other large investors have also recently 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 about $25,000. FPC Investment Advisory Inc. boosted its stake in shares of Accenture by 62.2% during the 4th 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 period. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the 3rd quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture during the 4th quarter worth about $30,000. Finally, POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% during the 4th 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 period. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 2.0 %

NYSE:ACN opened at $335.34 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. The firm has a market cap of $209.85 billion, a P/E ratio of 28.13, a P/E/G ratio of 3.23 and a beta of 1.24. The firm has a 50-day simple moving average of $365.40 and a 200-day simple moving average of $358.67. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

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

Insider Buying and Selling

In related news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This trade represents a 7.96 % decrease in their position. 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACN. Piper Sandler lifted their price target on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Stifel Nicolaus dropped their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley lifted their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. BMO Capital Markets lifted their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

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.