Accenture PLC $ACN Position Boosted by Sheets Smith Wealth Management

Sheets Smith Wealth Management lifted its stake in shares of Accenture PLC (NYSE:ACN) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,075 shares of the information technology services provider’s stock after purchasing an additional 143 shares during the period. Sheets Smith Wealth Management’s holdings in Accenture were worth $5,701,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ACN. Park Square Financial Group LLC bought a new position in shares of Accenture during the fourth quarter worth about $31,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Accenture during the first quarter worth about $31,000. Inlight Wealth Management LLC acquired a new stake in Accenture during the first quarter worth about $32,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the fourth quarter worth about $34,000. Finally, WPG Advisers LLC acquired a new stake in Accenture during the first quarter worth about $42,000. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ACN shares. Robert W. Baird dropped their price objective on shares of Accenture from $372.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 16th. Rothschild Redb lowered shares of Accenture from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. TD Cowen dropped their price objective on shares of Accenture from $342.00 to $313.00 and set a “buy” rating on the stock in a research note on Tuesday, September 9th. BMO Capital Markets dropped their price target on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a research note on Monday, June 23rd. Finally, Evercore ISI assumed coverage on shares of Accenture in a research note on Thursday, July 17th. They issued an “outperform” rating and a $330.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $329.52.

Insider Activity at Accenture

In related news, 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 transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. This trade represents a 17.97% 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, 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 transaction of $635,794.95. Following the transaction, the chief executive officer owned 8,109 shares in the company, valued at $2,290,387.05. This represents a 21.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock worth $834,280 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Accenture Price Performance

NYSE ACN opened at $235.20 on Wednesday. Accenture PLC has a 12 month low of $234.10 and a 12 month high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $147.32 billion, a PE ratio of 18.73, a P/E/G ratio of 2.07 and a beta of 1.29. The company’s 50 day simple moving average is $256.10 and its 200 day simple moving average is $287.94.

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.