Klingman & Associates LLC Trims Stake in Accenture plc (NYSE:ACN)

Klingman & Associates LLC lowered its holdings in Accenture plc (NYSE:ACN) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,273 shares of the information technology services provider’s stock after selling 37 shares during the quarter. Klingman & Associates LLC’s holdings in Accenture were worth $800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. State Street Corp raised its holdings in shares of Accenture by 1.8% in the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after buying an additional 471,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $1,941,219,000 after buying an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Accenture by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after buying an additional 56,937 shares during the period. Swedbank AB raised 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 valued at $1,324,029,000 after buying an additional 1,212,011 shares during the period. Finally, Stifel Financial Corp increased its holdings in Accenture by 1.5% during the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock worth $668,974,000 after purchasing an additional 28,491 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several recent research reports. UBS Group upped their price target on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and upped their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets upped their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. This represents a 7.32 % 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 ninety days. Insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.2 %

Shares of NYSE ACN opened at $387.12 on Wednesday. The stock has a market cap of $242.26 billion, a PE ratio of 32.48, a price-to-earnings-growth 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 52-week low of $278.69 and a 52-week high of $398.35. The business has a 50-day moving average price of $366.33 and a 200 day moving average price of $355.32.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 EPS. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Company 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.