Accenture plc (NYSE:ACN) Holdings Lowered by Flossbach Von Storch SE

Flossbach Von Storch SE trimmed its stake in shares of Accenture plc (NYSE:ACN) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,504,485 shares of the information technology services provider’s stock after selling 14,713 shares during the quarter. Accenture comprises 2.1% of Flossbach Von Storch SE’s holdings, making the stock its 19th biggest position. Flossbach Von Storch SE owned about 0.24% of Accenture worth $529,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB grew its stake in shares of Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after purchasing an additional 363,401 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Accenture by 29.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,589 shares of the information technology services provider’s stock worth $7,278,000 after purchasing an additional 4,734 shares during the last quarter. Segment Wealth Management LLC grew its stake in shares of Accenture by 0.4% in the 3rd quarter. Segment Wealth Management LLC now owns 42,984 shares of the information technology services provider’s stock worth $15,194,000 after purchasing an additional 157 shares during the last quarter. Blossom Wealth Management increased its position in shares of Accenture by 27.4% in the third quarter. Blossom Wealth Management now owns 894 shares of the information technology services provider’s stock worth $316,000 after acquiring an additional 192 shares in the last quarter. Finally, Albert D Mason Inc. purchased a new stake in shares of Accenture in the third quarter valued at $232,000. 75.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACN. Piper Sandler upped their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group reduced their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity at Accenture

In related 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 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 trade represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last ninety days. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

Accenture stock opened at $390.72 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 stock has a fifty day moving average price of $366.87 and a two-hundred day moving average price of $355.57. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The firm has a market capitalization of $244.51 billion, a P/E ratio of 32.78, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the business posted $3.27 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture 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.