Accenture plc (NYSE:ACN) Position Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of Accenture plc (NYSE:ACN) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 134,810 shares of the information technology services provider’s stock after selling 3,582 shares during the period. Accenture accounts for 0.6% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 29th biggest holding. Oppenheimer Asset Management Inc.’s holdings in Accenture were worth $47,425,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after buying an additional 471,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Accenture by 378.9% during the third 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 acquiring an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Accenture by 1.2% in the third 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 in the last quarter. Swedbank AB increased its position in Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the period. Finally, Stifel Financial Corp raised 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 last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their price target for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Buying and Selling at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated 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 of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Down 1.3 %

ACN stock 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 capitalization of $224.23 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The firm’s 50-day moving average is $367.94 and its two-hundred day moving average is $357.33. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

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