Cibc World Markets Corp Acquires 13,564 Shares of Accenture plc (NYSE:ACN)

Cibc World Markets Corp increased its holdings in Accenture plc (NYSE:ACN) by 16.0% during the 4th quarter, HoldingsChannel reports. The firm owned 98,568 shares of the information technology services provider’s stock after buying an additional 13,564 shares during the period. Cibc World Markets Corp’s holdings in Accenture were worth $34,675,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 worth $1,941,219,000 after buying an additional 4,345,039 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Accenture during the fourth quarter valued at $666,495,000. Swedbank AB boosted its stake in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Accenture by 51,837.3% during the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after purchasing an additional 858,944 shares during the period. Finally, Amundi boosted its stake in shares of Accenture by 27.9% during the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after purchasing an additional 826,038 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, CFO Angie Y. Park sold 685 shares of the 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Performance

Shares of Accenture stock opened at $318.28 on Monday. The company has a market capitalization of $199.17 billion, a PE ratio of 26.70, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50-day simple moving average of $363.01 and a two-hundred day simple moving average of $358.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the company posted $3.27 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of recent analyst reports. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. BMO Capital Markets boosted their target price on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Piper Sandler lowered their target price on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group lowered their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.52.

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.