Accenture plc (NYSE:ACN) Shares Sold by AGF Management Ltd.

AGF Management Ltd. trimmed its position in Accenture plc (NYSE:ACN) by 4.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,495 shares of the information technology services provider’s stock after selling 7,886 shares during the period. AGF Management Ltd.’s holdings in Accenture were worth $66,311,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. boosted its stake in 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 acquiring an additional 28 shares during the period. FPC Investment Advisory Inc. boosted its stake 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 acquiring an additional 28 shares during the period. Tradition Wealth Management LLC boosted its stake 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 valued at $3,871,000 after acquiring an additional 29 shares during the period. New England Professional Planning Group Inc. boosted its position in shares of Accenture by 4.6% during 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 buying an additional 29 shares during the period. Finally, TCW Group Inc. boosted its position in shares of Accenture by 0.3% during the third quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock worth $4,065,000 after buying an additional 30 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Stifel Nicolaus reduced their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, UBS Group upped their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the firm’s 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 transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale 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 firm’s 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 completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Down 2.0 %

ACN stock opened at $335.34 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a 50-day moving average of $365.40 and a two-hundred day moving average of $358.67. The stock has a market capitalization of $209.85 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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

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.