Elk River Wealth Management LLC Trims Stake in Accenture plc (NYSE:ACN)

Elk River Wealth Management LLC decreased its holdings in shares of Accenture plc (NYSE:ACN) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,242 shares of the information technology services provider’s stock after selling 139 shares during the quarter. Accenture accounts for about 1.3% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Elk River Wealth Management LLC’s holdings in Accenture were worth $7,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after purchasing an additional 4,345,039 shares during the period. Swedbank AB grew its holdings in shares of Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after buying an additional 689,366 shares in the last quarter. Holocene Advisors LP purchased a new stake in Accenture in the 3rd quarter valued at about $204,895,000. Finally, International Assets Investment Management LLC grew its stake in Accenture by 37,788.5% in the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock worth $180,401,000 after acquiring an additional 509,011 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Trading Up 0.8 %

NYSE ACN opened at $390.72 on Thursday. The company has a fifty day moving average of $366.87 and a 200 day moving average of $355.57. The company has a market capitalization of $244.51 billion, a PE ratio of 32.78, a P/E/G ratio of 3.44 and a beta of 1.24. 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.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping 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 firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business earned $3.27 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. Research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Analyst Ratings Changes

ACN has been the subject of a number of research reports. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Jefferies Financial Group decreased their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insiders Place Their Bets

In other news, 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 transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. 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. Company 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.