Corient Private Wealth LLC Sells 20,769 Shares of Accenture plc (NYSE:ACN)

Corient Private Wealth LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,054,082 shares of the information technology services provider’s stock after selling 20,769 shares during the period. Accenture accounts for approximately 0.6% of Corient Private Wealth LLC’s holdings, making the stock its 29th biggest position. Corient Private Wealth LLC owned 0.17% of Accenture worth $370,604,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Accenture by 378.9% during the 3rd 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Accenture in the 4th quarter valued at about $666,495,000. Swedbank AB lifted 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 acquiring an additional 1,212,011 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Accenture by 51,837.3% in the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after acquiring an additional 858,944 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Accenture by 27.9% in the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after acquiring an additional 826,038 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $387.52.

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of the 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 transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, 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 three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.4 %

Shares of NYSE ACN opened at $318.28 on Friday. 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 market capitalization of $199.17 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The business has a fifty day moving average price of $363.01 and a 200 day moving average price of $358.10.

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

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.