Accenture plc (NYSE:ACN) Shares Sold by Prossimo Advisors LLC

Prossimo Advisors LLC reduced its stake in shares of Accenture plc (NYSE:ACN) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,621 shares of the information technology services provider’s stock after selling 28 shares during the period. Prossimo Advisors LLC’s holdings in Accenture were worth $570,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Baldwin Wealth Partners LLC MA raised its stake 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 during the period. Davidson Trust Co. increased its holdings 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 worth $812,000 after buying an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC boosted its holdings in Accenture by 78.6% in the third 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 acquiring an additional 5,038 shares during the last quarter. MQS Management LLC purchased a new stake in Accenture during the third quarter valued at about $1,040,000. Finally, Concurrent Investment Advisors LLC increased its stake 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 acquiring an additional 14,724 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 375 shares of Accenture 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 transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Down 0.2 %

Accenture stock opened at $387.12 on Wednesday. The firm has a market capitalization of $242.26 billion, a P/E ratio of 32.48, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a 50-day simple moving average of $366.33 and a 200-day simple moving average of $355.32. Accenture plc has a one year low of $278.69 and a one year 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.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ACN shares. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. UBS Group increased their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Wolfe Research upgraded 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. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

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.