Jupiter Asset Management Ltd. Sells 20,885 Shares of Accenture plc (NYSE:ACN)

Jupiter Asset Management Ltd. cut its holdings in shares of Accenture plc (NYSE:ACN) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,525 shares of the information technology services provider’s stock after selling 20,885 shares during the period. Jupiter Asset Management Ltd.’s holdings in Accenture were worth $66,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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. Raymond James Financial Inc. bought a new position in Accenture during the 4th quarter worth $666,495,000. Swedbank AB increased its holdings 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 buying an additional 1,212,011 shares during the period. Proficio Capital Partners LLC increased its stake in Accenture by 51,837.3% in the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after acquiring an additional 858,944 shares during the last quarter. Finally, Amundi increased its stake 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 purchasing an additional 826,038 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACN shares. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Jefferies Financial Group dropped their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. BMO Capital Markets lifted their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last quarter. 0.02% of the stock is owned by company insiders.

Accenture Trading Down 2.2 %

Accenture stock opened at $327.79 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a market cap of $205.13 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The firm’s 50 day moving average price is $364.92 and its two-hundred day moving average price is $358.63.

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

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.