NewEdge Wealth LLC Sells 129 Shares of Accenture plc (NYSE:ACN)

NewEdge Wealth LLC reduced its stake in shares of Accenture plc (NYSE:ACN) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,061 shares of the information technology services provider’s stock after selling 129 shares during the quarter. NewEdge Wealth LLC’s holdings in Accenture were worth $4,947,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. BSW Wealth Partners lifted its stake in Accenture by 0.7% in the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock valued at $1,441,000 after acquiring an additional 28 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the last quarter. FPC Investment Advisory Inc. boosted its holdings in 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 purchasing an additional 28 shares during the last quarter. Tradition Wealth Management LLC increased its stake in Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares during the last quarter. Finally, New England Professional Planning Group Inc. lifted its position in Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after buying an additional 29 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACN. Stifel Nicolaus decreased their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets lifted their price objective 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. UBS Group raised their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Trading Down 0.4 %

Shares of ACN stock opened at $356.96 on Friday. The stock has a market cap of $223.38 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year 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 50 day simple moving average of $367.64 and a 200 day simple moving average of $357.33.

Accenture (NYSE:ACN) last released its 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 for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.27 EPS. On average, research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

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.