Jupiter Asset Management Ltd. Sells 20,885 Shares of Accenture plc (NYSE:ACN)

Jupiter Asset Management Ltd. lessened its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,525 shares of the information technology services provider's stock after selling 20,885 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Accenture were worth $66,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Morse Asset Management Inc bought a new position in Accenture in the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in Accenture in the 3rd quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in Accenture in the 4th quarter valued at about $30,000. Finally, POM Investment Strategies LLC increased its stake in 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 buying an additional 34 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on ACN. Piper Sandler decreased their price objective on shares of Accenture from $429.00 to $396.00 and set an "overweight" rating for the company in a research note on Friday. BMO Capital Markets increased their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Robert W. Baird reiterated a "neutral" rating and issued a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, 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. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $387.52.

Remove Ads

Accenture Price Performance

Shares of NYSE ACN traded up $1.21 during mid-day trading on Friday, reaching $318.28. 4,085,973 shares of the company were exchanged, compared to its average volume of 2,733,154. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $199.17 billion, a PE ratio of 26.70, a PEG ratio of 3.23 and a beta of 1.24. The company's 50 day moving average price is $363.01 and its 200 day moving average price is $357.97.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the firm posted $3.27 EPS. The firm's revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Angie Y. Park sold 685 shares of Accenture 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 transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company's stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 in the last 90 days. 0.02% of the stock is owned by company insiders.

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.