Accenture plc (NYSE:ACN) is Provident Trust Co.’s 4th Largest Position

Provident Trust Co. reduced its position in shares of Accenture plc (NYSE:ACN) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,537,324 shares of the information technology services provider’s stock after selling 31,940 shares during the period. Accenture comprises 9.4% of Provident Trust Co.’s portfolio, making the stock its 4th largest position. Provident Trust Co. owned 0.25% of Accenture worth $540,815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter worth about $25,000. MidAtlantic Capital Management Inc. purchased a new stake in Accenture during the 3rd quarter worth approximately $30,000. POM Investment Strategies LLC raised its position in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture during the fourth quarter worth approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after buying an additional 85 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Down 0.4 %

NYSE ACN opened at $387.99 on Tuesday. The company has a market capitalization of $242.80 billion, a P/E ratio of 32.55, a PEG ratio of 3.44 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 $365.29 and its 200 day simple moving average is $354.45.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping 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 business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period last year, the company posted $3.27 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred 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 directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ACN. UBS Group boosted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. BMO Capital Markets upped their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Finally, BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture 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.