Accenture plc (NYSE:ACN) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI decreased its holdings in Accenture plc (NYSE:ACN) by 67.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,067 shares of the information technology services provider’s stock after selling 152,976 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Accenture were worth $26,408,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Accenture by 378.9% in the 3rd 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 acquiring an additional 4,345,039 shares during the period. Swedbank AB grew its position in shares of Accenture by 47.5% in the fourth 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 period. Proficio Capital Partners LLC increased its stake in shares of Accenture by 51,837.3% during the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after purchasing an additional 858,944 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock worth $251,607,000 after purchasing an additional 689,366 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in Accenture in the 3rd quarter valued at about $204,895,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % 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 valued at $8,316,190 in the last three months. 0.02% of the stock is owned by corporate insiders.

Accenture Price Performance

Accenture stock opened at $344.57 on Tuesday. The company’s 50 day simple moving average is $366.99 and its 200-day simple moving average is $358.24. 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 company has a market capitalization of $215.63 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last released 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 company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the prior year, the firm earned $3.27 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Jefferies Financial Group reduced their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. BMO Capital Markets upped their target price on shares of Accenture from $390.00 to $425.00 and gave the stock 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 research note on Friday, January 31st. Finally, Piper Sandler upped their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

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.