Accenture PLC $ACN Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lessened its position in shares of Accenture PLC (NYSE:ACN) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,629 shares of the information technology services provider’s stock after selling 178 shares during the period. Sowell Financial Services LLC’s holdings in Accenture were worth $1,383,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Park Square Financial Group LLC acquired a new position in shares of Accenture in the 4th quarter valued at $31,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Accenture in the 1st quarter valued at $31,000. Inlight Wealth Management LLC acquired a new position in shares of Accenture in the 1st quarter valued at $32,000. Capital A Wealth Management LLC acquired a new position in shares of Accenture in the 4th quarter valued at $34,000. Finally, WPG Advisers LLC acquired a new position in shares of Accenture in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 2,251 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the transaction, the chief executive officer owned 8,109 shares in the company, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mauro Macchi sold 500 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,954 shares of company stock valued at $834,280. Insiders own 0.02% of the company’s stock.

Accenture Price Performance

ACN opened at $239.57 on Tuesday. The company’s 50 day simple moving average is $256.92 and its 200 day simple moving average is $288.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Accenture PLC has a 1 year low of $234.18 and a 1 year high of $398.35. The stock has a market capitalization of $150.05 billion, a PE ratio of 19.07, a P/E/G ratio of 2.07 and a beta of 1.30.

Accenture (NYSE:ACN) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business had revenue of $17.73 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same period last year, the company earned $3.13 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Accenture PLC will post 12.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ACN. Guggenheim reduced their price target on shares of Accenture from $335.00 to $305.00 and set a “buy” rating for the company in a research report on Wednesday, September 17th. Robert W. Baird reduced their price target on shares of Accenture from $372.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, September 16th. BMO Capital Markets reduced their price target on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday, June 23rd. Morgan Stanley reduced their price target on shares of Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 9th. Finally, Mizuho set a $348.00 price target on shares of Accenture and gave the company an “outperform” rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $335.61.

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.