West Michigan Advisors LLC Sells 43 Shares of Accenture plc (NYSE:ACN)

West Michigan Advisors LLC lowered its position in Accenture plc (NYSE:ACN) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,519 shares of the information technology services provider’s stock after selling 43 shares during the quarter. West Michigan Advisors LLC’s holdings in Accenture were worth $534,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in Accenture by 81.4% in the 4th quarter. Fisher Asset Management LLC now owns 4,955 shares of the information technology services provider’s stock worth $1,743,000 after purchasing an additional 2,224 shares in the last quarter. SVB Wealth LLC purchased a new stake in Accenture in the 4th quarter worth $27,631,000. Flputnam Investment Management Co. lifted its stake in Accenture by 9.7% in the 4th quarter. Flputnam Investment Management Co. now owns 120,293 shares of the information technology services provider’s stock worth $42,318,000 after purchasing an additional 10,671 shares in the last quarter. Fortress Financial Group LLC purchased a new stake in Accenture in the 4th quarter worth $202,000. Finally, Dynasty Wealth Management LLC lifted its stake in Accenture by 5.3% in the 4th quarter. Dynasty Wealth Management LLC now owns 16,275 shares of the information technology services provider’s stock worth $5,726,000 after purchasing an additional 818 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of ACN stock opened at $348.28 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market capitalization 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’s 50-day simple moving average is $367.28 and its two-hundred day simple moving average is $357.56. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last issued its 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 business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 EPS. As a group, equities analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Angie Y. Park sold 685 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group upped their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets upped their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group decreased their target price 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. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

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.