Crestwood Advisors Group LLC Boosts Holdings in Accenture plc (NYSE:ACN)

Crestwood Advisors Group LLC increased its stake in Accenture plc (NYSE:ACN) by 0.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 216,024 shares of the information technology services provider’s stock after buying an additional 115 shares during the period. Accenture accounts for approximately 1.4% of Crestwood Advisors Group LLC’s portfolio, making the stock its 16th largest position. Crestwood Advisors Group LLC’s holdings in Accenture were worth $75,995,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 period. Swedbank AB increased its position in Accenture by 47.5% during 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 purchasing an additional 1,212,011 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Accenture by 2,666.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after buying an additional 689,366 shares during the period. Holocene Advisors LP purchased a new stake in Accenture during the third quarter worth approximately $204,895,000. Finally, State Street Corp increased its position in shares of 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 acquiring an additional 471,792 shares in 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, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This represents a 42.58 % 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 quarter. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ACN shares. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research report on Wednesday, October 30th. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Morgan Stanley boosted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Trading Down 5.3 %

NYSE:ACN opened at $364.35 on Monday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. 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 company has a market cap of $228.00 billion, a PE ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 1.24. The business’s 50 day moving average is $367.48 and its two-hundred day moving average is $356.65.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates 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 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 quarter in the previous year, the company posted $3.27 earnings per share. On average, analysts predict that Accenture plc will post 12.73 EPS 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.