Cannon Wealth Management Services LLC Has $300,000 Stock Position in Accenture plc (NYSE:ACN)

Cannon Wealth Management Services LLC lessened its holdings in shares of Accenture plc (NYSE:ACN) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 779 shares of the information technology services provider’s stock after selling 43 shares during the period. Cannon Wealth Management Services LLC’s holdings in Accenture were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BSW Wealth Partners grew its position in shares of Accenture by 0.7% during the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after buying an additional 28 shares during the period. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. Tradition Wealth Management LLC grew its holdings in Accenture by 0.3% in the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares during the period. Finally, New England Professional Planning Group Inc. grew its holdings in Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Down 5.3 %

NYSE:ACN opened at $364.35 on Monday. The company has a 50-day moving average price of $367.48 and a 200-day moving average price of $356.65. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. 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 stock has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 1.24.

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, topping the consensus estimate of $3.43 by $0.16. The company 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 quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $3.27 EPS. Equities analysts predict that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ACN has been the topic of several analyst reports. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Morgan Stanley boosted their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. BMO Capital Markets increased their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, StockNews.com raised shares of 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Buying and Selling

In other news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % 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 three months. 0.02% of the stock is owned by corporate insiders.

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.