Schulhoff & Co. Inc. Sells 37 Shares of Accenture plc (NYSE:ACN)

Schulhoff & Co. Inc. trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,943 shares of the information technology services provider’s stock after selling 37 shares during the quarter. Accenture accounts for about 2.0% of Schulhoff & Co. Inc.’s holdings, making the stock its 13th biggest position. Schulhoff & Co. Inc.’s holdings in Accenture were worth $4,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Baldwin Wealth Partners LLC MA boosted its stake in shares of Accenture by 6.5% in the fourth 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 during the period. Davidson Trust Co. lifted its position in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after acquiring an additional 158 shares during the period. Schrum Private Wealth Management LLC grew its holdings in shares of Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC bought a new position in shares of Accenture in the third quarter worth $1,040,000. Finally, Concurrent Investment Advisors LLC lifted its position in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after purchasing an additional 14,724 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACN shares. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Morgan Stanley upped their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets boosted their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.96.

Insider Buying and Selling at Accenture

In related 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 transaction of $134,437.50. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Performance

NYSE:ACN opened at $356.96 on Friday. The company has a market capitalization of $223.38 billion, a PE ratio of 29.95, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50 day simple moving average of $367.64 and a two-hundred day simple moving average of $357.33.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the business earned $3.27 earnings per share. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

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.