Accenture plc (NYSE:ACN) Shares Sold by GS Investments Inc.

GS Investments Inc. trimmed its stake in Accenture plc (NYSE:ACN) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,269 shares of the information technology services provider’s stock after selling 335 shares during the period. Accenture makes up 2.1% of GS Investments Inc.’s investment portfolio, making the stock its 17th largest holding. GS Investments Inc.’s holdings in Accenture were worth $4,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after purchasing an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after buying an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Accenture by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after acquiring an additional 140,726 shares during the period. Amundi increased its holdings in shares of Accenture by 27.9% in the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after acquiring an additional 826,038 shares during the period. Finally, Swedbank AB raised its position in Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Up 0.1 %

ACN opened at $324.52 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $203.08 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business’s fifty day moving average is $361.19 and its two-hundred day moving average is $357.78.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.27 EPS. Analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Piper Sandler dropped their target price on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Morgan Stanley decreased their price target on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research report on Monday. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $384.45.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares in the company, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

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.