Gulf International Bank UK Ltd Sells 547 Shares of Accenture plc (NYSE:ACN)

Gulf International Bank UK Ltd reduced its stake in shares of Accenture plc (NYSE:ACN) by 1.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,385 shares of the information technology services provider’s stock after selling 547 shares during the period. Gulf International Bank UK Ltd’s holdings in Accenture were worth $17,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACN. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Accenture by 2.1% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 247,666 shares of the information technology services provider’s stock valued at $87,126,000 after buying an additional 5,100 shares in the last quarter. Convergence Financial LLC lifted its stake in Accenture by 88.7% in the 4th quarter. Convergence Financial LLC now owns 1,402 shares of the information technology services provider’s stock worth $493,000 after purchasing an additional 659 shares in the last quarter. Nwam LLC raised its position in shares of Accenture by 9.3% during the 4th quarter. Nwam LLC now owns 3,492 shares of the information technology services provider’s stock valued at $1,228,000 after buying an additional 297 shares in the last quarter. Heritage Investors Management Corp raised its position in shares of Accenture by 2.4% during the 4th quarter. Heritage Investors Management Corp now owns 53,131 shares of the information technology services provider’s stock valued at $18,691,000 after buying an additional 1,235 shares in the last quarter. Finally, SRN Advisors LLC raised its position in shares of Accenture by 10.4% during the 4th quarter. SRN Advisors LLC now owns 6,642 shares of the information technology services provider’s stock valued at $2,337,000 after buying an additional 625 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACN has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. 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 research note on Wednesday, October 30th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Down 1.3 %

Shares of ACN opened at $358.32 on Thursday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a market cap of $224.23 billion, a PE ratio of 30.06, a P/E/G ratio of 3.23 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. The business has a fifty day moving average of $367.94 and a 200 day moving average of $357.33.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.27 EPS. On average, sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.

Insider Activity

In related news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by company insiders.

About Accenture

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.