Fiduciary Group LLC Decreases Position in Accenture plc (NYSE:ACN)

Fiduciary Group LLC cut its stake in shares of Accenture plc (NYSE:ACN) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,214 shares of the information technology services provider’s stock after selling 40 shares during the period. Fiduciary Group LLC’s holdings in Accenture were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. raised its position in Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the period. FPC Investment Advisory Inc. raised its position 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 purchasing an additional 28 shares during the period. Tradition Wealth Management LLC raised its position in Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after purchasing an additional 29 shares during the period. New England Professional Planning Group Inc. raised its position in Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after purchasing an additional 29 shares during the period. Finally, TCW Group Inc. grew its stake in shares of Accenture by 0.3% during the third quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after buying an additional 30 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. BMO Capital Markets cut their target price on Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their target price for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, 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 research note on Monday. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $384.45.

Accenture Stock Up 0.1 %

Shares of NYSE ACN opened at $324.52 on Thursday. 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 stock has a market capitalization of $203.08 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The stock’s fifty day simple moving average is $361.19 and its two-hundred day simple moving average is $357.78. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the prior year, the business posted $3.27 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

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.