Vinva Investment Management Ltd Decreases Stock Holdings in Accenture plc (NYSE:ACN)

Vinva Investment Management Ltd trimmed its position in shares of Accenture plc (NYSE:ACN) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,498 shares of the information technology services provider’s stock after selling 357 shares during the period. Vinva Investment Management Ltd’s holdings in Accenture were worth $4,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Bank of Marin raised its holdings in shares of Accenture by 8.4% during the 4th quarter. Bank of Marin now owns 3,080 shares of the information technology services provider’s stock worth $1,084,000 after acquiring an additional 238 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Accenture during the 4th quarter worth approximately $106,000. Xponance Inc. raised its holdings in shares of Accenture by 8.6% during the 4th quarter. Xponance Inc. now owns 97,765 shares of the information technology services provider’s stock worth $34,393,000 after acquiring an additional 7,769 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Accenture by 50.3% during the 4th quarter. Intech Investment Management LLC now owns 70,187 shares of the information technology services provider’s stock worth $24,691,000 after acquiring an additional 23,484 shares in the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in shares of Accenture during the 4th quarter valued at approximately $23,043,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Trading Up 0.1 %

Shares of NYSE ACN opened at $324.52 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 market capitalization of $203.08 billion, a P/E ratio of 27.22, 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 $361.19 and a 200 day moving average price of $357.78.

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

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the 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 approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the 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 sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last three months. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ACN shares. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler cut their target price on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Morgan Stanley cut their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $384.45.

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.