M&R Capital Management Inc. Sells 83 Shares of Accenture plc (NYSE:ACN)

M&R Capital Management Inc. reduced its stake in shares of Accenture plc (NYSE:ACN – Get Rating) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,897 shares of the information technology services provider’s stock after selling 83 shares during the quarter. Accenture comprises about 1.1% of M&R Capital Management Inc.’s portfolio, making the stock its 24th biggest position. M&R Capital Management Inc.’s holdings in Accenture were worth $3,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Tsfg LLC boosted its stake in Accenture by 108.7% in the third quarter. Tsfg LLC now owns 96 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Norwood Financial Corp bought a new position in Accenture in the third quarter valued at approximately $32,000. Ten Capital Wealth Advisors LLC boosted its stake in Accenture by 61.8% in the third quarter. Ten Capital Wealth Advisors LLC now owns 123 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 47 shares during the last quarter. EWG Elevate Inc. bought a new position in Accenture in the fourth quarter valued at approximately $32,000. Finally, Align Wealth Management LLC bought a new position in Accenture in the fourth quarter valued at approximately $36,000. 73.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACN. Wells Fargo & Company began coverage on shares of Accenture in a research note on Monday, January 30th. They issued an “equal weight” rating and a $289.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Accenture from $340.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday. Cowen lifted their price target on shares of Accenture from $295.00 to $300.00 in a research report on Monday, December 19th. JPMorgan Chase & Co. lifted their price target on shares of Accenture from $306.00 to $327.00 in a research report on Thursday, December 15th. Finally, Piper Sandler cut shares of Accenture from a “neutral” rating to an “underweight” rating and set a $268.00 price target on the stock. in a research report on Monday, December 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.50.

Accenture Price Performance

ACN stock traded down $2.92 during midday trading on Friday, hitting $250.00. The company’s stock had a trading volume of 6,470,869 shares, compared to its average volume of 2,251,999. Accenture plc has a twelve month low of $242.80 and a twelve month high of $345.30. The company’s fifty day moving average price is $273.70 and its 200 day moving average price is $275.16. The stock has a market capitalization of $157.56 billion, a P/E ratio of 22.71, a PEG ratio of 2.32 and a beta of 1.25.

Accenture (NYSE:ACN – Get Rating) last issued its quarterly earnings results on Friday, December 16th. The information technology services provider reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.17. Accenture had a net margin of 11.31% and a return on equity of 31.49%. The firm had revenue of $15.75 billion for the quarter, compared to analyst estimates of $15.58 billion. Equities analysts expect that Accenture plc will post 11.44 EPS for the current fiscal year.

Insider Buying and Selling at Accenture

In other news, insider Ellyn Shook sold 5,250 shares of Accenture stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $276.08, for a total value of $1,449,420.00. Following the completion of the transaction, the insider now owns 34,444 shares of the company’s stock, valued at approximately $9,509,299.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider James O. Etheredge sold 1,790 shares of Accenture stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $259.75, for a total value of $464,952.50. Following the completion of the transaction, the insider now owns 17,127 shares of the company’s stock, valued at approximately $4,448,738.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 5,250 shares of Accenture stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $276.08, for a total transaction of $1,449,420.00. Following the completion of the transaction, the insider now directly owns 34,444 shares of the company’s stock, valued at approximately $9,509,299.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,015 shares of company stock worth $10,884,179. Insiders own 0.08% of the company’s stock.

About Accenture

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Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.