Asset Advisors Investment Management LLC Has $25.57 Million Holdings in Accenture plc (NYSE:ACN)

Asset Advisors Investment Management LLC cut its position in shares of Accenture plc (NYSE:ACN) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,684 shares of the information technology services provider’s stock after selling 1,160 shares during the quarter. Accenture comprises 2.7% of Asset Advisors Investment Management LLC’s investment portfolio, making the stock its 10th biggest holding. Asset Advisors Investment Management LLC’s holdings in Accenture were worth $25,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after purchasing an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Accenture by 378.9% during 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 buying an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Accenture by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after acquiring an additional 56,937 shares in the last quarter. Swedbank AB grew its stake in shares of 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 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 worth $668,974,000 after purchasing an additional 28,491 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research report on Wednesday, October 30th. Wolfe Research raised 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. BMO Capital Markets lifted their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $387.22.

Accenture Stock Down 5.3 %

NYSE ACN opened at $364.35 on Monday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24. The stock’s 50-day moving average price is $367.48 and its 200-day moving average price is $356.65.

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

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s 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 completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This trade 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 sold 22,280 shares of company stock valued at $8,316,190. 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.