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

Sfmg LLC trimmed its position in Accenture plc (NYSE:ACN) by 19.5% during the second quarter, according to its most recent 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ACN. Unique Wealth Strategies LLC acquired a new stake in shares of Accenture in the 2nd quarter valued at approximately $26,000. Annapolis Financial Services LLC raised its position in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Accenture in the 2nd quarter valued at approximately $28,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. raised its holdings in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock valued at $6,912,635 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Accenture Price Performance

ACN stock opened at $339.64 on Wednesday. The company has a fifty day moving average price of $332.73 and a two-hundred day moving average price of $321.04. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The stock has a market cap of $212.85 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.82 and a beta of 1.24.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler Companies restated a “neutral” rating and set a $329.00 target price on shares of Accenture in a report on Friday, September 20th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Friday, July 19th. Barclays dropped their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. TD Cowen raised their target price on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday, September 12th. Finally, BMO Capital Markets dropped their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $356.14.

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.