Ieq Capital LLC Grows Stock Holdings in Accenture plc (NYSE:ACN)

Ieq Capital LLC boosted its position in Accenture plc (NYSE:ACN) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 46,737 shares of the information technology services provider’s stock after acquiring an additional 2,169 shares during the period. Ieq Capital LLC’s holdings in Accenture were worth $16,442,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Accenture by 378.9% during 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 valued at $1,941,219,000 after buying an additional 4,345,039 shares during the period. Swedbank AB grew its stake in shares of Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after buying an additional 1,212,011 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Accenture by 2,666.5% during 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 during the period. Holocene Advisors LP purchased a new stake in shares of Accenture during the 3rd quarter valued at $204,895,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after acquiring an additional 509,011 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, 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 value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This trade represents a 2.54 % 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 quarter. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of Accenture stock opened at $390.72 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm’s 50-day simple moving average is $366.87 and its 200-day simple moving average is $355.57. The firm has a market cap of $244.51 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) 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 net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the firm earned $3.27 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ACN shares. UBS Group lifted their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Morgan Stanley lifted their target price 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 lifted their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Finally, BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

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.