Forvis Mazars Wealth Advisors LLC Lowers Holdings in Accenture plc (NYSE:ACN)

Forvis Mazars Wealth Advisors LLC decreased its stake in Accenture plc (NYSE:ACN) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,781 shares of the information technology services provider’s stock after selling 360 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Accenture were worth $4,144,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Howard Capital Management Inc. purchased a new stake in shares of Accenture in the fourth quarter worth about $1,531,000. New England Professional Planning Group Inc. boosted its stake in shares of Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after buying an additional 29 shares during the last quarter. Townsend & Associates Inc boosted its stake in shares of Accenture by 2.6% in the fourth quarter. Townsend & Associates Inc now owns 39,318 shares of the information technology services provider’s stock worth $14,014,000 after buying an additional 982 shares during the last quarter. FPC Investment Advisory Inc. boosted its stake in shares of Accenture by 62.2% in the fourth 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. Finally, Pinnacle Financial Partners Inc boosted its position in Accenture by 7.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 6,891 shares of the information technology services provider’s stock worth $2,425,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly 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 position. 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 over the last quarter. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ACN. Jefferies Financial Group lowered their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and increased their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Price Performance

NYSE:ACN opened at $364.35 on Friday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $228.00 billion, a PE ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 1.24. The stock has a 50 day moving average price of $367.48 and a 200 day moving average price of $356.38.

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, beating the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.27 earnings per share. Equities research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

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.