Gulf International Bank UK Ltd Sells 547 Shares of Accenture plc (NYSE:ACN)

Gulf International Bank UK Ltd lowered its stake in shares of Accenture plc (NYSE:ACN) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,385 shares of the information technology services provider’s stock after selling 547 shares during the period. Gulf International Bank UK Ltd’s holdings in Accenture were worth $17,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $1,941,219,000 after purchasing an additional 4,345,039 shares in the last quarter. Swedbank AB boosted 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 in the last quarter. Assenagon Asset Management S.A. grew its position 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 during the 3rd quarter worth approximately $204,895,000. Finally, State Street Corp lifted its position in Accenture by 1.8% during the third 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 acquiring an additional 471,792 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN opened at $358.32 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s 50 day simple moving average is $367.94 and its 200-day simple moving average is $357.33. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a market capitalization of $224.23 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 3.23 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Jefferies Financial Group cut their price objective 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. Finally, Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $388.96.

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.