Atria Wealth Solutions Inc. Lowers Position in Accenture plc (NYSE:ACN)

Atria Wealth Solutions Inc. lowered its holdings in Accenture plc (NYSE:ACN) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,774 shares of the information technology services provider’s stock after selling 2,861 shares during the period. Atria Wealth Solutions Inc.’s holdings in Accenture were worth $6,605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new position in shares of Accenture during the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the 3rd quarter valued at about $30,000. POM Investment Strategies LLC raised its holdings 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 valued at $31,000 after buying an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture during the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ACN shares. Morgan Stanley lifted their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research report on Wednesday, October 30th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Trading Up 0.8 %

Accenture stock opened at $390.72 on Thursday. 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 business’s fifty day simple moving average is $366.87 and its two-hundred day simple moving average is $355.57. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a market capitalization of $244.51 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

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

Insider Transactions at Accenture

In related news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade 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 worth $8,316,190 over the last quarter. 0.02% of the stock is currently owned by 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.