TCW Group Inc. Sells 1,449 Shares of Accenture plc (NYSE:ACN)

TCW Group Inc. trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 12.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,052 shares of the information technology services provider’s stock after selling 1,449 shares during the period. TCW Group Inc.’s holdings in Accenture were worth $3,536,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FPC Investment Advisory Inc. raised its stake in 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 buying an additional 28 shares during the last quarter. Pinnacle Financial Partners Inc increased its holdings in shares of Accenture by 7.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 6,891 shares of the information technology services provider’s stock valued at $2,425,000 after acquiring an additional 453 shares in the last quarter. Sigma Planning Corp boosted its stake in Accenture by 3.4% in the 4th quarter. Sigma Planning Corp now owns 2,526 shares of the information technology services provider’s stock worth $889,000 after purchasing an additional 83 shares in the last quarter. Callan Capital LLC grew its position in Accenture by 3.8% during the 4th quarter. Callan Capital LLC now owns 2,507 shares of the information technology services provider’s stock valued at $882,000 after purchasing an additional 92 shares during the last quarter. Finally, Redmond Asset Management LLC increased its stake in Accenture by 1.6% during the 4th quarter. Redmond Asset Management LLC now owns 4,624 shares of the information technology services provider’s stock valued at $1,627,000 after purchasing an additional 75 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Price Performance

NYSE ACN opened at $364.35 on Monday. The stock has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.41 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company’s 50 day moving average is $367.48 and its two-hundred day moving average is $356.65. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACN shares. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by corporate 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.