Oppenheimer Asset Management Inc. Trims Holdings in Accenture plc (NYSE:ACN)

Oppenheimer Asset Management Inc. lowered its stake in shares of Accenture plc (NYSE:ACN) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,810 shares of the information technology services provider’s stock after selling 3,582 shares during the quarter. Accenture comprises about 0.6% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 29th largest position. Oppenheimer Asset Management Inc.’s holdings in Accenture were worth $47,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ACN. Swedbank AB lifted its stake in Accenture by 16.6% during the third 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. China Universal Asset Management Co. Ltd. grew its holdings in Accenture by 131.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,251 shares of the information technology services provider’s stock worth $796,000 after acquiring an additional 1,277 shares during the period. Fortitude Family Office LLC boosted its position in shares of Accenture by 57.2% in the 3rd quarter. Fortitude Family Office LLC now owns 316 shares of the information technology services provider’s stock valued at $112,000 after purchasing an additional 115 shares during the period. Jacobsen Capital Management boosted its position in shares of Accenture by 41.5% in the 3rd quarter. Jacobsen Capital Management now owns 935 shares of the information technology services provider’s stock valued at $331,000 after purchasing an additional 274 shares during the period. Finally, Childress Capital Advisors LLC boosted its position in Accenture by 9.2% during the 3rd quarter. Childress Capital Advisors LLC now owns 1,679 shares of the information technology services provider’s stock worth $594,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated 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 approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ACN shares. Morgan Stanley lifted their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets raised their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Stock Down 1.3 %

ACN stock opened at $358.32 on Thursday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The stock has a market capitalization of $224.23 billion, a P/E ratio of 30.06, a P/E/G ratio of 3.23 and a beta of 1.24. 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 firm has a 50-day simple moving average of $367.94 and a 200-day simple moving average of $357.33.

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