Connable Office Inc. Sells 135 Shares of Accenture plc (NYSE:ACN)

Connable Office Inc. decreased its stake in Accenture plc (NYSE:ACN) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,008 shares of the information technology services provider’s stock after selling 135 shares during the period. Connable Office Inc.’s holdings in Accenture were worth $2,465,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ACN. Morse Asset Management Inc bought a new position in shares of Accenture in the 3rd quarter worth $25,000. FPC Investment Advisory Inc. increased its holdings in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC boosted its stake 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. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture in the 4th quarter valued at $34,000. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 2.4 %

Shares of NYSE ACN opened at $348.28 on Friday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The stock has a market cap of $217.95 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The firm has a 50-day moving average of $367.28 and a 200 day moving average of $357.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the company posted $3.27 EPS. Accenture’s revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ACN shares. Jefferies Financial Group cut their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. BMO Capital Markets upped their price objective 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. Stifel Nicolaus dropped their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $388.96.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last three months. Company insiders own 0.02% of the company’s stock.

About Accenture

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.