Pinion Investment Advisors LLC Has $209,000 Stock Position in Accenture plc (NYSE:ACN)

Pinion Investment Advisors LLC lowered its holdings in Accenture plc (NYSE:ACN) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594 shares of the information technology services provider’s stock after selling 30 shares during the period. Pinion Investment Advisors LLC’s holdings in Accenture were worth $209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ACN. Newbridge Financial Services Group Inc. grew its position in Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after acquiring an additional 28 shares in the last quarter. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Tradition Wealth Management LLC increased its stake in Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after acquiring an additional 29 shares during the period. New England Professional Planning Group Inc. raised its stake in shares of Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after purchasing an additional 29 shares in the last quarter. Finally, TCW Group Inc. boosted its position in shares of Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN stock opened at $344.57 on Tuesday. 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 1 year low of $278.69 and a 1 year high of $398.35. The company has a market cap of $215.63 billion, a P/E ratio of 28.91, a PEG ratio of 3.23 and a beta of 1.24. The firm has a 50-day moving average of $366.99 and a 200 day moving average of $358.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. 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 business posted $3.27 EPS. Accenture’s revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Jefferies Financial Group cut their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. BMO Capital Markets raised their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares in the company, valued at $7,446,422.28. The trade was a 18.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last three months. 0.02% of the stock is currently owned by company insiders.

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.