Accenture plc (NYSE:ACN) Shares Acquired by Diversified Enterprises LLC

Diversified Enterprises LLC grew its stake in Accenture plc (NYSE:ACN) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,050 shares of the information technology services provider’s stock after purchasing an additional 206 shares during the period. Diversified Enterprises LLC’s holdings in Accenture were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $1,941,219,000 after purchasing an additional 4,345,039 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Accenture in the fourth quarter worth approximately $666,495,000. Swedbank AB grew its position in Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Proficio Capital Partners LLC grew its position in Accenture by 51,837.3% in the fourth quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock worth $302,751,000 after acquiring an additional 858,944 shares during the period. Finally, Amundi grew its position in Accenture by 27.9% in the fourth quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after acquiring an additional 826,038 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. BMO Capital Markets increased their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Piper Sandler lowered their price objective on Accenture from $429.00 to $396.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus decreased their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Robert W. Baird restated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.52.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture 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 sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value 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. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Up 0.4 %

Shares of NYSE ACN opened at $318.28 on Friday. The company has a market capitalization of $199.17 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. 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 business has a 50-day moving average of $363.01 and a two-hundred day moving average of $357.97. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the business earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

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.