Tower Bridge Advisors Sells 444 Shares of Accenture plc (NYSE:ACN)

Tower Bridge Advisors decreased its position in shares of Accenture plc (NYSE:ACN) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,176 shares of the information technology services provider’s stock after selling 444 shares during the quarter. Accenture accounts for approximately 2.4% of Tower Bridge Advisors’ portfolio, making the stock its 7th largest holding. Tower Bridge Advisors’ holdings in Accenture were worth $22,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baldwin Wealth Partners LLC MA lifted its position in shares of Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares in the last quarter. Davidson Trust Co. lifted its holdings in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC lifted its holdings in Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC purchased a new position in Accenture in the 3rd quarter valued at $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its holdings in Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after purchasing an additional 14,724 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ACN shares. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. BMO Capital Markets raised their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus reduced their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Stock Down 2.4 %

Shares of NYSE:ACN opened at $348.28 on Friday. The company has a market capitalization of $217.95 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. 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 has a 50-day moving average price of $367.28 and a 200 day moving average price of $357.56. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

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. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 EPS. Sell-side analysts expect 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.