Pinnacle Wealth Planning Services Inc. Decreases Stake in Accenture plc (NYSE:ACN)

Pinnacle Wealth Planning Services Inc. reduced its stake in shares of Accenture plc (NYSE:ACN) by 21.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,623 shares of the information technology services provider’s stock after selling 989 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Accenture were worth $1,275,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Accenture in the 3rd quarter worth about $25,000. FPC Investment Advisory Inc. increased its stake 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 acquiring an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture during the 3rd quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture during the 4th quarter valued at about $30,000. Finally, POM Investment Strategies LLC increased its position 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 worth $31,000 after purchasing an additional 34 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares in the company, valued at approximately $10,232,419.68. This trade represents a 7.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by corporate insiders.

Accenture Stock Up 0.7 %

NYSE ACN opened at $348.27 on Thursday. The company has a market capitalization of $217.94 billion, a P/E ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. 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. The company’s 50 day simple moving average is $366.41 and its 200 day simple moving average is $358.30.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of 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. UBS Group increased their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group dropped their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $388.96.

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.