Forvis Mazars Wealth Advisors LLC Lowers Stock Holdings in Accenture plc (NYSE:ACN)

Forvis Mazars Wealth Advisors LLC reduced its position in shares of Accenture plc (NYSE:ACN) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,781 shares of the information technology services provider’s stock after selling 360 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Accenture were worth $4,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ACN. Morse Asset Management Inc purchased a new position in Accenture in the third quarter valued at $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Accenture in the third quarter valued at $30,000. POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in Accenture in the fourth quarter valued at $34,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the sale, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last quarter. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ACN. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight 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.com, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Stock Down 5.3 %

ACN opened at $364.35 on Friday. The stock has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business’s 50-day simple moving average is $367.48 and its 200-day simple moving average is $356.38. 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 (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.27 EPS. Analysts anticipate that Accenture plc will post 12.73 EPS 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.