Sfmg LLC Sells 539 Shares of Accenture plc (NYSE:ACN)

Sfmg LLC trimmed its position in shares of Accenture plc (NYSE:ACN) by 19.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,231 shares of the information technology services provider’s stock after selling 539 shares during the period. Sfmg LLC’s holdings in Accenture were worth $677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TrinityPoint Wealth LLC lifted its holdings in shares of Accenture by 3.6% during the fourth 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 during the last quarter. Focus Financial Network Inc. ADV bought a new stake in Accenture in the 4th quarter valued at $4,594,000. New Mexico Educational Retirement Board grew its position in Accenture by 11.9% in the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock worth $12,393,000 after purchasing an additional 3,900 shares during the last quarter. Platform Technology Partners increased its holdings in shares of Accenture by 7.0% during the 4th quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after purchasing an additional 131 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Accenture by 13.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after buying an additional 21,516 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACN shares. Piper Sandler boosted their price target on Accenture from $320.00 to $329.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. The Goldman Sachs Group started coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price for the company. Jefferies Financial Group decreased their price target on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Bank of America dropped their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Barclays decreased their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $356.14.

Accenture Stock Performance

ACN opened at $339.64 on Wednesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm’s 50-day simple moving average is $332.73 and its 200-day simple moving average is $321.04. The firm has a market cap of $212.85 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 3.82 and a beta of 1.24.

Insiders Place Their Bets

In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the sale, the chief financial officer now owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the transaction, the chief financial officer now directly owns 38,570 shares in the company, valued at approximately $12,149,550. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 in the last 90 days. 0.07% of the stock is currently owned by insiders.

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.