Pinnacle Wealth Planning Services Inc. Has $1.28 Million Position in Accenture plc (NYSE:ACN)

Pinnacle Wealth Planning Services Inc. reduced its holdings in shares of Accenture plc (NYSE:ACN) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,623 shares of the information technology services provider’s stock after selling 989 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Accenture were worth $1,275,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ACN. Morse Asset Management Inc bought a new position in Accenture during the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. raised 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 acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture in the fourth quarter worth about $30,000. Finally, POM Investment Strategies LLC raised its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Up 0.7 %

NYSE ACN opened at $348.27 on Thursday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business’s fifty day moving average is $366.41 and its 200-day moving average is $358.30. The stock has a market capitalization of $217.94 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. 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 (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the business posted $3.27 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts predict that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACN. Jefferies Financial Group dropped their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Morgan Stanley lifted their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the company’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 completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’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 completion of the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

About Accenture

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.