Accenture plc (NYSE:ACN) Stock Position Decreased by Kintegral Advisory LLC

Kintegral Advisory LLC cut its stake in shares of Accenture plc (NYSE:ACN) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,658 shares of the information technology services provider’s stock after selling 962 shares during the period. Kintegral Advisory LLC’s holdings in Accenture were worth $7,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ACN. Redmond Asset Management LLC raised its stake in Accenture by 1.6% during the 4th quarter. Redmond Asset Management LLC now owns 4,624 shares of the information technology services provider’s stock valued at $1,627,000 after purchasing an additional 75 shares during the period. Prentice Wealth Management LLC grew its holdings in shares of Accenture by 6.2% during the fourth quarter. Prentice Wealth Management LLC now owns 1,763 shares of the information technology services provider’s stock valued at $620,000 after buying an additional 103 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in Accenture by 3.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,435 shares of the information technology services provider’s stock valued at $857,000 after buying an additional 72 shares during the period. Hudson Edge Investment Partners Inc. lifted its stake in Accenture by 7.1% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 17,434 shares of the information technology services provider’s stock worth $6,133,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Dahring Cusmano LLC acquired a new stake in Accenture during the 4th quarter worth about $283,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 5.3 %

ACN stock opened at $364.35 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a 50-day moving average of $367.48 and a two-hundred day moving average of $356.12. The stock has a market capitalization of $228.00 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

Accenture (NYSE:ACN) last released its 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 return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the firm posted $3.27 EPS. The company’s revenue was up 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Insider Activity at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last ninety days. 0.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ACN. The Goldman Sachs Group raised shares of 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 lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, BMO Capital Markets upped their target price 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 investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.22.

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.