ING Groep NV lowered its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 26.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,865 shares of the information technology services provider's stock after selling 52,898 shares during the period. ING Groep NV's holdings in Accenture were worth $53,073,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Parcion Private Wealth LLC lifted its stake in Accenture by 2.2% during the fourth quarter. Parcion Private Wealth LLC now owns 18,452 shares of the information technology services provider's stock valued at $6,491,000 after purchasing an additional 400 shares during the last quarter. Dash Acquisitions Inc. increased its holdings in shares of Accenture by 2.6% in the fourth quarter. Dash Acquisitions Inc. now owns 45,040 shares of the information technology services provider's stock valued at $17,043,000 after buying an additional 1,144 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in shares of Accenture by 2.3% during the 4th quarter. Boston Financial Mangement LLC now owns 6,720 shares of the information technology services provider's stock worth $2,364,000 after acquiring an additional 151 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Accenture by 12.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 40,170 shares of the information technology services provider's stock worth $14,131,000 after acquiring an additional 4,579 shares during the last quarter. Finally, Advyzon Investment Management LLC acquired a new stake in shares of Accenture during the fourth quarter worth $548,000. Institutional investors and hedge funds own 75.14% of the company's stock.
Accenture Trading Down 5.3 %
ACN stock traded down $20.49 during midday trading on Friday, reaching $364.35. The stock had a trading volume of 3,747,836 shares, compared to its average volume of 2,728,130. The business has a fifty day simple moving average of $367.37 and a two-hundred day simple moving average of $355.77. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The firm has a market cap of $228.00 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. 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, beating the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.
Insiders Place Their Bets
In other Accenture news, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on ACN shares. StockNews.com raised Accenture from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. Jefferies Financial Group cut their price target 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. Wolfe Research raised shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. Morgan Stanley boosted their target price 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $387.22.
Read Our Latest Research Report on Accenture
About Accenture
(
Free Report)
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.
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