Mutual of America Capital Management LLC Lowers Stake in Accenture plc (NYSE:ACN)

Mutual of America Capital Management LLC cut its stake in Accenture plc (NYSE:ACN) by 3.0% in the 4th quarter, Holdings Channel reports. The fund owned 74,845 shares of the information technology services provider’s stock after selling 2,278 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Accenture were worth $26,330,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB grew its position in Accenture by 16.6% during the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock valued at $901,967,000 after acquiring an additional 363,401 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Accenture by 10.2% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,023 shares of the information technology services provider’s stock valued at $362,000 after purchasing an additional 95 shares during the last quarter. JFS Wealth Advisors LLC raised its position in Accenture by 547.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 3,158 shares of the information technology services provider’s stock worth $1,116,000 after purchasing an additional 2,670 shares during the period. Financial Advocates Investment Management lifted its stake in Accenture by 5.0% in the third quarter. Financial Advocates Investment Management now owns 5,182 shares of the information technology services provider’s stock worth $1,832,000 after purchasing an additional 246 shares during the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC bought a new position in shares of Accenture during the third quarter valued at about $347,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other 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 sale, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Down 2.4 %

Shares of Accenture stock opened at $348.28 on Friday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a 50-day moving average of $367.28 and a 200 day moving average of $357.56. The firm has a market cap of $217.95 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACN shares. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and increased their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group dropped their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Morgan Stanley raised their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture 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.