Valley Wealth Managers Inc. Sells 225 Shares of Accenture plc (NYSE:ACN)

Valley Wealth Managers Inc. lowered its holdings in shares of Accenture plc (NYSE:ACN) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,575 shares of the information technology services provider’s stock after selling 225 shares during the quarter. Accenture accounts for about 1.5% of Valley Wealth Managers Inc.’s portfolio, making the stock its 26th largest position. Valley Wealth Managers Inc.’s holdings in Accenture were worth $20,254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB increased its stake in Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares during the period. AA Financial Advisors LLC purchased a new position in Accenture during the 3rd quarter valued at about $270,000. Allspring Global Investments Holdings LLC increased its position in Accenture by 10.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 202,330 shares of the information technology services provider’s stock valued at $71,520,000 after purchasing an additional 19,958 shares during the period. Brown Lisle Cummings Inc. increased its position in Accenture by 2.5% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 23,006 shares of the information technology services provider’s stock valued at $8,132,000 after purchasing an additional 570 shares during the period. Finally, Violich Capital Management Inc. increased its position in Accenture by 2.8% during the 3rd quarter. Violich Capital Management Inc. now owns 36,977 shares of the information technology services provider’s stock valued at $13,071,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ACN shares. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Piper Sandler lifted their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Finally, BMO Capital Markets lifted their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of 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. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last 90 days. 0.02% of the stock is owned by insiders.

Accenture Trading Down 0.4 %

Shares of ACN stock opened at $387.99 on Tuesday. The company’s 50-day moving average price is $365.29 and its 200-day moving average price is $354.45. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market cap of $242.80 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current 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.