Janney Capital Management LLC Sells 330 Shares of Accenture PLC (NYSE:ACN)

Janney Capital Management LLC lessened its holdings in shares of Accenture PLC (NYSE:ACN) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,733 shares of the information technology services provider’s stock after selling 330 shares during the period. Janney Capital Management LLC’s holdings in Accenture were worth $9,902,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock worth $4,325,526,000 after purchasing an additional 1,770,024 shares in the last quarter. Alteri Wealth LLC acquired a new stake in shares of Accenture during the 4th quarter worth approximately $321,000. Proficio Capital Partners LLC boosted its position in shares of Accenture by 47.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider’s stock worth $861,000 after acquiring an additional 789 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Accenture in the fourth quarter valued at approximately $317,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Accenture in the fourth quarter valued at approximately $350,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ACN shares. Wall Street Zen lowered shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. UBS Group restated a “buy” rating and issued a $395.00 target price (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a research note on Monday, March 17th. Royal Bank Of Canada dropped their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, 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 note on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $380.00.

Accenture Price Performance

Shares of NYSE ACN opened at $306.11 on Thursday. Accenture PLC has a twelve month low of $275.01 and a twelve month high of $398.35. The firm has a fifty day simple moving average of $306.52 and a 200 day simple moving average of $334.70. The company has a market capitalization of $191.72 billion, a PE ratio of 25.28, a P/E/G ratio of 3.15 and a beta of 1.33. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.43% and a return on equity of 26.49%. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same period in the previous year, the firm posted $2.77 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, sell-side analysts forecast that Accenture PLC will post 12.73 EPS for the current year.

Insider Buying and Selling at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now directly owns 15,882 shares of the company’s stock, valued at $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,516 shares of company stock valued at $2,507,366. Corporate insiders own 0.02% of the company’s stock.

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.