Ascent Wealth Partners LLC Sells 178 Shares of Accenture plc (NYSE:ACN)

Ascent Wealth Partners LLC reduced its position in Accenture plc (NYSE:ACN) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 36,269 shares of the information technology services provider’s stock after selling 178 shares during the period. Accenture accounts for approximately 1.7% of Ascent Wealth Partners LLC’s portfolio, making the stock its 11th largest holding. Ascent Wealth Partners LLC’s holdings in Accenture were worth $12,759,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA grew its holdings in Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its holdings in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC grew its holdings in Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC purchased a new position in Accenture during the 3rd quarter valued at about $1,040,000. Finally, Concurrent Investment Advisors LLC grew its holdings in Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction that occurred on 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 transaction, 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. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture Trading Down 5.3 %

ACN opened at $364.35 on Friday. The business has a 50 day simple moving average of $367.48 and a two-hundred day simple moving average of $356.38. The firm has a market capitalization 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 current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

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

Analyst Ratings Changes

Several brokerages have recently commented on ACN. Morgan Stanley boosted their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target 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. Jefferies Financial Group lowered their price objective 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. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus target price of $387.22.

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.