Good Life Advisors LLC Trims Position in Accenture plc (NYSE:ACN)

Good Life Advisors LLC lowered its position in Accenture plc (NYSE:ACN) by 21.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,441 shares of the information technology services provider’s stock after selling 926 shares during the period. Good Life Advisors LLC’s holdings in Accenture were worth $1,210,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Baldwin Wealth Partners LLC MA grew its position in shares of Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its holdings in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC lifted its holdings in shares of Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC bought a new position in shares of Accenture during the third quarter worth $1,040,000. Finally, Concurrent Investment Advisors LLC grew its stake in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.8 %

NYSE ACN opened at $390.72 on Thursday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company’s 50-day moving average price is $366.87 and its 200-day moving average price is $355.57. The stock has a market cap of $244.51 billion, a PE ratio of 32.78, a PEG ratio of 3.44 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

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. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $3.27 earnings per share. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analyst Weigh In

ACN has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Morgan Stanley upped their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average price target of $387.22.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares in the company, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Corporate insiders own 0.02% of the company’s stock.

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.