Fidelis Capital Partners LLC Decreases Stake in Accenture plc (NYSE:ACN)

Fidelis Capital Partners LLC cut its stake in shares of Accenture plc (NYSE:ACN) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,787 shares of the information technology services provider’s stock after selling 169 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Accenture were worth $2,229,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ACN. Morse Asset Management Inc acquired a new position in shares of Accenture in the third quarter valued at about $25,000. FPC Investment Advisory Inc. lifted its holdings 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 during the period. MidAtlantic Capital Management Inc. acquired a new position in Accenture in the 3rd quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture during the 4th quarter worth approximately $30,000. Finally, POM Investment Strategies LLC lifted its stake in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. 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. Morgan Stanley upped their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Jefferies Financial Group decreased their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $388.96.

Accenture Price Performance

Shares of Accenture stock opened at $348.28 on Monday. The stock has a market capitalization of $217.95 billion, a P/E ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. The business has a 50 day simple moving average of $367.28 and a two-hundred day simple moving average of $358.10. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. 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 (NYSE:ACN) last posted 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 the consensus estimate of $17.15 billion. During the same period in the prior year, the company earned $3.27 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. As a group, analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by insiders.

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.