Accenture plc (NYSE:ACN) Shares Sold by Kendall Capital Management

Kendall Capital Management lessened its stake in shares of Accenture plc (NYSE:ACN) by 0.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,282 shares of the information technology services provider’s stock after selling 50 shares during the period. Kendall Capital Management’s holdings in Accenture were worth $1,858,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Swedbank AB lifted its stake in shares of Accenture by 16.6% during the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after purchasing an additional 363,401 shares during the period. Cozad Asset Management Inc. purchased a new position in shares of Accenture during the 3rd quarter worth $225,000. TFB Advisors LLC lifted its stake in shares of Accenture by 8.3% during the 3rd quarter. TFB Advisors LLC now owns 727 shares of the information technology services provider’s stock worth $257,000 after purchasing an additional 56 shares during the period. Fiera Capital Corp lifted its stake in shares of Accenture by 7.4% during the 3rd quarter. Fiera Capital Corp now owns 45,609 shares of the information technology services provider’s stock worth $16,122,000 after purchasing an additional 3,135 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Accenture during the 3rd quarter worth $6,108,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACN. Robert W. Baird reissued a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Stifel Nicolaus cut their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Down 0.0 %

NYSE:ACN opened at $341.68 on Friday. The company has a market capitalization of $213.82 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The stock has a 50-day simple moving average of $365.74 and a 200 day simple moving average of $358.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $3.27 earnings per share. Sell-side analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. Corporate 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.