Accenture plc (NYSE:ACN) Shares Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd boosted its position in shares of Accenture plc (NYSE:ACN - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,125 shares of the information technology services provider's stock after acquiring an additional 5,060 shares during the quarter. Cumberland Partners Ltd's holdings in Accenture were worth $4,617,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Accenture by 378.9% during 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. Swedbank AB increased its stake in shares of Accenture by 47.5% in the 4th 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in Accenture by 2,666.5% in 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 period. Holocene Advisors LP bought a new stake in Accenture during the third quarter valued at about $204,895,000. Finally, International Assets Investment Management LLC raised its stake in shares of Accenture by 37,788.5% in the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider's stock worth $180,401,000 after buying an additional 509,011 shares during the period. Institutional investors own 75.14% of the company's stock.

Accenture Trading Down 5.3 %

ACN traded down $20.21 during trading hours on Friday, reaching $364.63. 2,669,823 shares of the company's stock traded hands, compared to its average volume of 2,690,522. The firm has a market capitalization of $228.18 billion, a PE ratio of 30.67, a PEG ratio of 3.46 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 firm has a 50-day moving average price of $367.37 and a 200 day moving average price of $355.77. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN - Get Free Report) last issued its 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. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 EPS. As a group, sell-side analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ACN shares. Robert W. Baird reissued a "neutral" rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Wolfe Research upgraded Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. StockNews.com upgraded Accenture from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. UBS Group lifted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, Piper Sandler lifted their target price on Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $387.22.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now directly owns 20,526 shares in the company, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their position. 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 ninety days. Corporate insiders own 0.02% of the company's stock.

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.