WP Advisors LLC Lowers Holdings in Accenture plc (NYSE:ACN)

WP Advisors LLC cut its position in Accenture plc (NYSE:ACN) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,790 shares of the information technology services provider’s stock after selling 142 shares during the quarter. WP Advisors LLC’s holdings in Accenture were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 buying an additional 4,345,039 shares during the last quarter. Swedbank AB increased its holdings 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 buying an additional 1,212,011 shares during the last quarter. Assenagon Asset Management S.A. increased 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 worth $251,607,000 after buying an additional 689,366 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Accenture in the 3rd quarter worth $204,895,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Accenture by 37,788.5% in the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock worth $180,401,000 after buying an additional 509,011 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture 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 completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. 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 three months. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACN shares. UBS Group increased their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a report on Wednesday, January 8th. BMO Capital Markets increased their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Finally, Jefferies Financial Group reduced their target price 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. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture Trading Down 1.3 %

NYSE:ACN opened at $385.06 on Friday. The company has a 50-day moving average price of $367.37 and a 200-day moving average price of $355.77. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market cap of $240.97 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping 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 firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the company posted $3.27 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities analysts predict that Accenture plc will post 12.73 EPS for the current year.

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.