Accenture plc (NYSE:ACN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its holdings in shares of Accenture plc (NYSE:ACN) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,054,082 shares of the information technology services provider’s stock after selling 20,769 shares during the period. Accenture makes up approximately 0.6% of Corient Private Wealth LLC’s holdings, making the stock its 29th largest holding. Corient Private Wealth LLC’s holdings in Accenture were worth $370,604,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Baldwin Wealth Partners LLC MA boosted its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Davidson Trust Co. boosted its position in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after purchasing an additional 158 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its position in shares of Accenture by 126.8% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after acquiring an additional 22,391 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 56,937 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Accenture by 37.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after acquiring an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.4 %

Accenture stock opened at $318.28 on Friday. 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 market capitalization of $199.17 billion, a P/E ratio of 26.70, a PEG ratio of 3.23 and a beta of 1.24. The stock has a 50-day simple moving average of $363.01 and a 200-day simple moving average of $358.10.

Accenture (NYSE:ACN) last posted 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 business 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%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.27 EPS. Equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACN shares. Wolfe Research upgraded 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. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research report on Friday. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average target price of $387.52.

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.