Accenture plc (NYSE:ACN) Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. reduced its position in shares of Accenture plc (NYSE:ACN) by 28.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 700 shares of the information technology services provider’s stock after selling 280 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Accenture were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Morse Asset Management Inc acquired a new position in shares of Accenture in the 3rd quarter worth approximately $25,000. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the third quarter worth approximately $30,000. POM Investment Strategies LLC grew its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture during the 4th quarter valued at $34,000. Finally, Berbice Capital Management LLC bought a new stake in shares of Accenture during the 4th quarter worth $35,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Down 5.3 %

ACN opened at $364.35 on Friday. The company has a market capitalization of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. 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 fifty-two week low of $278.69 and a fifty-two week high of $398.35. The business has a 50-day moving average of $367.48 and a 200-day moving average of $356.12.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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. The firm had revenue of $17.69 billion for 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%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.27 earnings per share. Equities research analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction 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 owns 11,858 shares in the company, valued at $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. In the last 90 days, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACN. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Morgan Stanley boosted their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. BMO Capital Markets raised their target price 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. UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Jefferies Financial Group lowered their price objective 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 research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.