Accenture plc (NYSE:ACN) Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC cut its holdings in Accenture plc (NYSE:ACN) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,995 shares of the information technology services provider’s stock after selling 244 shares during the period. Accenture makes up about 1.5% of Isthmus Partners LLC’s holdings, making the stock its 27th largest position. Isthmus Partners LLC’s holdings in Accenture were worth $11,959,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % 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 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ACN shares. Stifel Nicolaus reduced their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley increased their price objective on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Piper Sandler upped their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group lowered their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, UBS Group upped their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $388.96.

Accenture Trading Down 0.0 %

Shares of ACN opened at $341.68 on Monday. The firm’s 50-day moving average is $365.74 and its two-hundred day moving average is $358.64. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $213.82 billion, a P/E ratio of 28.66, a PEG ratio of 3.23 and a beta of 1.24.

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

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.