Accenture PLC (NYSE:ACN) Shares Sold by DecisionMap Wealth Management LLC

DecisionMap Wealth Management LLC cut its stake in Accenture PLC (NYSE:ACN) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,174 shares of the information technology services provider’s stock after selling 66 shares during the period. DecisionMap Wealth Management LLC’s holdings in Accenture were worth $678,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ACN. FPC Investment Advisory Inc. boosted its position 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 acquiring an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $31,000. Finally, Promus Capital LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Down 1.9%

Shares of NYSE:ACN opened at $306.11 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $306.94 and a 200 day simple moving average of $334.32. The firm has a market cap of $191.72 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 3.09 and a beta of 1.33. Accenture PLC has a 12-month low of $275.01 and a 12-month high of $398.35.

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

Insider Buying and Selling

In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Morgan Stanley reduced their price target on shares of Accenture from $372.00 to $340.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 12th. Wall Street Zen cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, UBS Group reaffirmed a “buy” rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Seven equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $380.00.

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.