Trillium Asset Management LLC Sells 27,287 Shares of Accenture plc (NYSE:ACN)

Trillium Asset Management LLC cut its holdings in shares of Accenture plc (NYSE:ACN) by 24.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 85,556 shares of the information technology services provider’s stock after selling 27,287 shares during the period. Trillium Asset Management LLC’s holdings in Accenture were worth $30,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ACN. Morse Asset Management Inc bought a new stake in Accenture during the third quarter valued at about $25,000. FPC Investment Advisory Inc. raised its holdings in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Accenture during the third quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter valued at about $30,000. Finally, POM Investment Strategies LLC raised its holdings 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 owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACN. Piper Sandler reduced their target price on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. BMO Capital Markets reduced their target price on Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price on the stock in a report on Monday. Finally, Morgan Stanley reduced their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $385.65.

Insider Activity

In related news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.5 %

Shares of NYSE:ACN opened at $324.21 on Wednesday. The business has a 50 day simple moving average of $361.86 and a two-hundred day simple moving average of $358.02. 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 plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a market capitalization of $202.89 billion, a PE ratio of 27.20, a price-to-earnings-growth 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 the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the firm posted $3.27 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts predict that Accenture plc will post 12.73 EPS for the current year.

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.