Accenture plc (NYSE:ACN) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC decreased its position in shares of Accenture plc (NYSE:ACN) by 50.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,590 shares of the information technology services provider’s stock after selling 2,650 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Accenture were worth $911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc acquired a new stake in shares of Accenture during the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. lifted its position in shares of 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 buying an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture during the 3rd quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the 4th quarter worth about $30,000. Finally, POM Investment Strategies LLC increased its position in shares of Accenture by 64.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 8,915 shares in the company, 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. Over the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACN has been the subject of several research reports. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Stifel Nicolaus dropped 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, February 26th. JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. 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. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $388.96.

Accenture Price Performance

ACN stock opened at $335.34 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The business has a 50 day moving average price of $365.40 and a 200 day moving average price of $358.67. The stock has a market cap of $209.85 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the business earned $3.27 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal 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.