Keybank National Association OH Trims Position in Accenture plc (NYSE:ACN)

Keybank National Association OH decreased its stake in shares of Accenture plc (NYSE:ACN) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 304,521 shares of the information technology services provider’s stock after selling 5,647 shares during the quarter. Keybank National Association OH’s holdings in Accenture were worth $107,128,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ACN. State Street Corp lifted 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 worth $9,685,648,000 after acquiring an additional 471,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Accenture by 378.9% in 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 purchasing an additional 4,345,039 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Accenture by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock valued at $1,746,455,000 after acquiring an additional 140,726 shares in the last quarter. 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 valued at $1,324,029,000 after buying an additional 1,212,011 shares in the last quarter. Finally, Stifel Financial Corp raised its position in shares of Accenture by 1.5% in the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after purchasing an additional 28,491 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Accenture stock opened at $344.57 on Tuesday. The stock has a 50 day moving average of $366.99 and a 200-day moving average of $358.24. The stock has a market cap of $215.63 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. 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 issued its earnings results 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 company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the prior year, the company earned $3.27 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. 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 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 for the company in a research note on Wednesday, January 8th. Stifel Nicolaus lowered their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. 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, Accenture presently has a consensus rating of “Moderate Buy” and an average price target of $388.96.

About Accenture

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.