CIBC Asset Management Inc Has $40.70 Million Stock Holdings in Accenture plc (NYSE:ACN)

CIBC Asset Management Inc grew its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 115,825 shares of the information technology services provider's stock after acquiring an additional 4,264 shares during the period. CIBC Asset Management Inc's holdings in Accenture were worth $40,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture in the 3rd quarter valued at $30,000. POM Investment Strategies LLC lifted its stake in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider's stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the company's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now directly owns 28,866 shares in the company, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Melissa A. Burgum sold 232 shares of the company's stock in a transaction that occurred 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 owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Robert W. Baird reaffirmed a "neutral" rating and issued a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. Jefferies Financial Group cut their target price on shares of Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. StockNews.com raised shares of Accenture from a "hold" rating to a "buy" rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Accenture from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $387.22.

Accenture Price Performance

NYSE ACN traded down $5.16 on Thursday, reaching $385.06. The company's stock had a trading volume of 2,251,805 shares, compared to its average volume of 2,697,309. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $240.97 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The business has a 50-day moving average price of $366.87 and a 200 day moving average price of $355.57.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analysts' expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 earnings per share. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.

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.