Lindenwold Advisors INC Trims Position in Accenture plc (NYSE:ACN)

Lindenwold Advisors INC decreased its stake in Accenture plc (NYSE:ACN) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,055 shares of the information technology services provider’s stock after selling 122 shares during the quarter. Lindenwold Advisors INC’s holdings in Accenture were worth $1,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Accenture in the fourth quarter worth about $666,495,000. Swedbank AB boosted its stake in shares of Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Accenture by 51,837.3% in the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after acquiring an additional 858,944 shares during the period. Finally, Amundi boosted its stake in Accenture by 27.9% during the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after buying an additional 826,038 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.5 %

Shares of NYSE:ACN opened at $324.21 on Wednesday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The business’s fifty day simple moving average is $361.86 and its 200-day simple moving average is $358.02. The company has a market capitalization of $202.89 billion, a PE ratio of 27.20, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

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, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for 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%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $3.27 EPS. As a group, equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Piper Sandler lowered their price objective on Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, 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 report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $385.65.

Insider Transactions at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction 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 approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the sale, the general counsel now directly owns 20,526 shares of the company’s stock, valued at approximately $7,446,422.28. This represents a 18.79 % 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.

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.