Vinva Investment Management Ltd Lowers Stock Position in Accenture plc (NYSE:ACN)

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Marin lifted its position in Accenture by 8.4% during the fourth quarter. Bank of Marin now owns 3,080 shares of the information technology services provider’s stock valued at $1,084,000 after buying an additional 238 shares during the period. VSM Wealth Advisory LLC purchased a new position in Accenture during the fourth quarter valued at $106,000. Xponance Inc. increased its holdings in shares of Accenture by 8.6% during the fourth quarter. Xponance Inc. now owns 97,765 shares of the information technology services provider’s stock valued at $34,393,000 after acquiring an additional 7,769 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Accenture by 50.3% during the fourth quarter. Intech Investment Management LLC now owns 70,187 shares of the information technology services provider’s stock valued at $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 fourth quarter valued at $23,043,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.1 %

ACN stock opened at $324.52 on Thursday. Accenture plc has a twelve month low of $278.69 and a twelve month 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 stock has a market cap of $203.08 billion, a P/E ratio of 27.22, a PEG ratio of 3.23 and a beta of 1.24. The business’s 50-day moving average price is $361.19 and its 200-day moving average price is $357.78.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the firm earned $3.27 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $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. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a report on Monday. Mizuho reduced their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus reduced their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.