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

NewEdge Wealth LLC trimmed its position in shares of Accenture plc (NYSE:ACN) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,061 shares of the information technology services provider’s stock after selling 129 shares during the period. NewEdge Wealth LLC’s holdings in Accenture were worth $4,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Accenture by 378.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after acquiring an additional 4,345,039 shares during the last quarter. Swedbank AB raised its position in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock worth $251,607,000 after buying an additional 689,366 shares during the period. Holocene Advisors LP bought a new stake in shares of Accenture in the 3rd quarter valued at about $204,895,000. Finally, State Street Corp raised its position in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after acquiring an additional 471,792 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ACN shares. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. UBS Group lifted their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $388.96.

Accenture Stock Performance

ACN opened at $356.96 on Friday. The company has a market cap of $223.38 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 3.23 and a beta of 1.24. The company’s fifty day moving average price is $367.64 and its two-hundred day moving average price is $357.33. 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.

Accenture (NYSE:ACN) last announced its quarterly 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. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.27 EPS. On average, analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Activity at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares of the company’s stock, 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 have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture 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.