Sage Rhino Capital LLC Lowers Position in Accenture plc (NYSE:ACN)

Sage Rhino Capital LLC cut its stake in Accenture plc (NYSE:ACN) by 4.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 674 shares of the information technology services provider’s stock after selling 31 shares during the quarter. Sage Rhino Capital LLC’s holdings in Accenture were worth $237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 buying an additional 4,345,039 shares during the period. Swedbank AB lifted its holdings in 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 buying an additional 1,212,011 shares during the period. Proficio Capital Partners LLC lifted its holdings in Accenture by 51,837.3% in the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after buying an additional 858,944 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Accenture by 2,666.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock worth $251,607,000 after buying an additional 689,366 shares during the period. Finally, Holocene Advisors LP purchased a new stake in Accenture in the third quarter worth about $204,895,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. BMO Capital Markets raised their target price 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 raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

Accenture Stock Performance

Shares of NYSE ACN opened at $344.57 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $215.63 billion, a P/E ratio of 28.91, a P/E/G ratio of 3.23 and a beta of 1.24. The firm’s fifty day moving average is $366.99 and its two-hundred day moving average is $358.24. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

Accenture (NYSE:ACN) last posted 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. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the firm posted $3.27 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

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.