Envestnet Portfolio Solutions Inc. Sells 25,340 Shares of Accenture PLC (NYSE:ACN)

Envestnet Portfolio Solutions Inc. decreased its stake in Accenture PLC (NYSE:ACN - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 104,805 shares of the information technology services provider's stock after selling 25,340 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Accenture were worth $32,703,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Visionary Wealth Advisors grew its position in Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after purchasing an additional 26 shares during the last quarter. Vivaldi Capital Management LP grew its holdings in shares of Accenture by 3.6% during the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after buying an additional 27 shares during the last quarter. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. New England Professional Planning Group Inc. raised its holdings in Accenture by 4.6% in the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock worth $230,000 after acquiring an additional 29 shares during the last quarter. Finally, Nemes Rush Group LLC lifted its position in Accenture by 7.5% in the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock valued at $147,000 after acquiring an additional 29 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of Accenture stock opened at $306.11 on Thursday. The stock has a market cap of $191.72 billion, a P/E ratio of 25.28, a P/E/G ratio of 3.15 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.48 and a current ratio of 1.48. The stock's fifty day moving average is $306.52 and its 200 day moving average is $334.70. Accenture PLC has a one year low of $275.01 and a one year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.49% and a net margin of 11.43%. The firm had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. During the same quarter last year, the company earned $2.77 earnings per share. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer now owns 15,882 shares of the company's stock, valued at $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company's stock, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Accenture from $372.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, June 12th. Mizuho decreased their target price on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research report on Wednesday, March 19th. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Barclays decreased their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Robert W. Baird upgraded shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of "Moderate Buy" and a consensus price target of $380.00.

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.

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