Elwood & Goetz Wealth Advisory Group LLC Cuts Stock Position in Accenture plc (NYSE:ACN)

Elwood & Goetz Wealth Advisory Group LLC decreased its holdings in Accenture plc (NYSE:ACN) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 1,427 shares of the information technology services provider’s stock after selling 44 shares during the quarter. Elwood & Goetz Wealth Advisory Group LLC’s holdings in Accenture were worth $502,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after purchasing an additional 471,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Accenture by 378.9% in 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 purchasing an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Accenture by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after purchasing an additional 56,937 shares during the last quarter. Swedbank AB grew its holdings in Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Accenture by 1.5% in the third quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after purchasing an additional 28,491 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ACN shares. Robert W. Baird reissued a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. UBS Group increased their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Piper Sandler increased their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Stock Performance

Accenture stock opened at $364.35 on Friday. The stock’s 50-day moving average is $367.48 and its 200-day moving average is $356.38. The company has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 3.41 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 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for 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%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $3.27 EPS. Equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

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 transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the transaction, the chief executive officer now directly owns 28,866 shares in the company, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. 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.