Sei Investments Co. Sells 149,843 Shares of Accenture plc (NYSE:ACN)

Sei Investments Co. lowered its position in Accenture plc (NYSE:ACN) by 28.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 372,794 shares of the information technology services provider’s stock after selling 149,843 shares during the quarter. Sei Investments Co. owned 0.06% of Accenture worth $113,108,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Accretive Wealth Partners LLC raised its stake in shares of Accenture by 2.3% in the 4th quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock valued at $762,000 after buying an additional 48 shares in the last quarter. Aveo Capital Partners LLC raised its position in Accenture by 7.6% in the fourth quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock worth $794,000 after purchasing an additional 160 shares in the last quarter. 9258 Wealth Management LLC boosted its holdings in Accenture by 3.6% during the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $459,000 after purchasing an additional 46 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Accenture by 79.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock valued at $881,000 after purchasing an additional 1,123 shares during the period. Finally, TrinityPoint Wealth LLC raised its holdings in shares of Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of a number of analyst reports. Bank of America lowered their price target on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. The Goldman Sachs Group assumed coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 target price for the company. TD Cowen boosted their price target on shares of Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research report on Thursday, September 12th. Barclays dropped their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Finally, Piper Sandler boosted their target price on Accenture from $320.00 to $329.00 and gave the stock a “neutral” rating in a report on Friday. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $356.41.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the sale, the insider now owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,421 shares of company stock worth $6,912,635. Insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $336.22 on Friday. The firm’s 50 day moving average price is $332.01 and its two-hundred day moving average price is $322.44. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The stock has a market cap of $210.71 billion, a PE ratio of 30.79, a PEG ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

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.