Accenture plc (NYSE:ACN) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lessened its stake in Accenture plc (NYSE:ACN) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,683 shares of the information technology services provider’s stock after selling 8,890 shares during the quarter. AMF Tjanstepension AB’s holdings in Accenture were worth $20,661,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new position in shares of Accenture in the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. boosted its holdings in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture during the 3rd quarter valued at $30,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture during the 4th quarter valued at $30,000. Finally, POM Investment Strategies LLC lifted its holdings in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN opened at $341.68 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm has a 50-day simple moving average of $365.74 and a 200 day simple moving average of $358.27. The company has a market cap of $213.82 billion, a PE ratio of 28.66, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating 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 earned $3.27 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group reduced their target price 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. Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % 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.

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.