Riverpoint Wealth Management Holdings LLC Sells 1,025 Shares of Accenture plc (NYSE:ACN)

Riverpoint Wealth Management Holdings LLC reduced its holdings in shares of Accenture plc (NYSE:ACN) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,353 shares of the information technology services provider’s stock after selling 1,025 shares during the quarter. Accenture accounts for about 1.1% of Riverpoint Wealth Management Holdings LLC’s investment portfolio, making the stock its 14th largest holding. Riverpoint Wealth Management Holdings LLC’s holdings in Accenture were worth $4,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ACN. Morse Asset Management Inc purchased a new stake in shares of Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. increased its holdings in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Accenture in the 3rd quarter worth approximately $30,000. POM Investment Strategies LLC grew its position in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Accenture in the fourth quarter worth $34,000. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.2 %

ACN opened at $363.22 on Wednesday. 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 current ratio of 1.47 and a quick ratio of 1.47. The business has a 50 day simple moving average of $367.73 and a two-hundred day simple moving average of $357.32. The firm has a market capitalization of $227.30 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.27 earnings per share. Analysts predict that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the company’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 sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % 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 over the last 90 days. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ACN. UBS Group boosted their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. 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.com, Accenture currently has an average rating of “Moderate Buy” and an average target price 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.