Cumberland Partners Ltd Has $4.62 Million Position in Accenture plc (NYSE:ACN)

Cumberland Partners Ltd grew its position in shares of Accenture plc (NYSE:ACN) by 62.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,125 shares of the information technology services provider’s stock after buying an additional 5,060 shares during the period. Cumberland Partners Ltd’s holdings in Accenture were worth $4,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $1,941,219,000 after purchasing an additional 4,345,039 shares in the last quarter. Swedbank AB increased its holdings in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Accenture by 2,666.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after buying an additional 689,366 shares during the period. Holocene Advisors LP acquired a new stake in Accenture during the third quarter worth approximately $204,895,000. Finally, International Assets Investment Management LLC increased its stake in Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock worth $180,401,000 after acquiring an additional 509,011 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

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

Accenture Price Performance

Shares of ACN opened at $390.72 on Thursday. The business has a 50-day moving average of $366.87 and a 200-day moving average of $355.57. 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 $244.51 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the company earned $3.27 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACN. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Jefferies Financial Group decreased their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Piper Sandler upped their price target on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.22.

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.