Alta Capital Management LLC Sells 2,463 Shares of Accenture plc (NYSE:ACN)

Alta Capital Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 61.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,528 shares of the information technology services provider’s stock after selling 2,463 shares during the period. Alta Capital Management LLC’s holdings in Accenture were worth $538,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ACN. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. increased its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Accenture during the third quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the fourth quarter valued at about $30,000. Finally, POM Investment Strategies LLC increased its stake in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. Morgan Stanley upped their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. Finally, UBS Group upped 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. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. 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 three months. Insiders own 0.02% of the company’s stock.

Accenture Stock Down 1.1 %

NYSE:ACN opened at $344.57 on Tuesday. The stock’s fifty day moving average price is $366.99 and its two-hundred day moving average price is $358.24. Accenture plc has a 52-week low of $278.69 and a 52-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 cap of $215.63 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted 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 the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business posted $3.27 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Accenture plc will post 12.73 EPS 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.