Accenture plc (NYSE:ACN) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Accenture plc (NYSE:ACN - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,173,237 shares of the information technology services provider's stock after selling 15,228 shares during the period. Rhumbline Advisers owned approximately 0.19% of Accenture worth $412,733,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 acquiring an additional 4,345,039 shares in the last quarter. Swedbank AB raised its position 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 acquiring an additional 1,212,011 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of 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 valued at $251,607,000 after buying an additional 689,366 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Accenture in the 3rd quarter worth $204,895,000. Finally, International Assets Investment Management LLC grew its stake in shares of Accenture by 37,788.5% during 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 acquiring an additional 509,011 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Accenture from a "hold" rating to a "buy" rating in a research note on Monday, January 13th. 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 report on Friday, January 31st. Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Robert W. Baird reiterated a "neutral" rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Finally, BMO Capital Markets lifted their price target on Accenture from $390.00 to $425.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and an average price target of $387.22.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the transaction, the chief executive officer now owns 28,866 shares in the company, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 375 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction 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. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company's stock.

Accenture Stock Performance

NYSE:ACN traded up $3.16 during midday trading on Wednesday, reaching $390.72. The stock had a trading volume of 1,438,004 shares, compared to its average volume of 2,711,225. The stock has a market cap of $244.51 billion, a P/E ratio of 32.78, a P/E/G ratio of 3.44 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 plc has a 12-month low of $278.69 and a 12-month high of $398.35. The firm has a fifty day simple moving average of $366.33 and a two-hundred day simple moving average of $355.32.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter in the previous year, the company earned $3.27 EPS. The firm's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities 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.