Norden Group LLC Trims Stock Holdings in Accenture plc (NYSE:ACN)

Norden Group LLC decreased its stake in Accenture plc (NYSE:ACN) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,181 shares of the information technology services provider’s stock after selling 593 shares during the quarter. Norden Group LLC’s holdings in Accenture were worth $4,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. grew its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture during the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Accenture during the fourth quarter worth about $30,000. Finally, POM Investment Strategies LLC grew its position 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 in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 in the last ninety days. 0.02% of the stock is owned by insiders.

Accenture Stock Down 2.4 %

Shares of ACN stock opened at $348.28 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The stock’s fifty day moving average price is $367.28 and its 200 day moving average price is $357.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $217.95 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the business earned $3.27 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ACN shares. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and increased their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group raised their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, BMO Capital Markets raised their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

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.