Pine Valley Investments Ltd Liability Co Lowers Holdings in Accenture plc (NYSE:ACN)

Pine Valley Investments Ltd Liability Co reduced its position in shares of Accenture plc (NYSE:ACN) by 0.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,154 shares of the information technology services provider’s stock after selling 46 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Accenture were worth $4,979,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ACN. Morse Asset Management Inc bought a new stake in shares of Accenture during the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. boosted its stake in Accenture by 62.2% during the 4th 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 last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture in the third quarter worth $30,000. POM Investment Strategies LLC lifted 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 valued at $31,000 after purchasing an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $34,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Performance

Shares of NYSE ACN opened at $363.66 on Tuesday. 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 fifty day moving average price of $367.61 and a 200-day moving average price of $356.99. The stock has a market cap of $227.58 billion, a PE ratio of 30.51, 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 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 analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $3.27 earnings per share. Equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler upped their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were 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 in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Corporate insiders own 0.02% of the company’s stock.

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.