Chapman Investment Management LLC Sells 147 Shares of Accenture plc (NYSE:ACN)

Chapman Investment Management LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,088 shares of the information technology services provider’s stock after selling 147 shares during the period. Accenture accounts for about 2.9% of Chapman Investment Management LLC’s investment portfolio, making the stock its 13th biggest holding. Chapman Investment Management LLC’s holdings in Accenture were worth $3,901,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Accenture by 378.9% in 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 worth $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Swedbank AB increased 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 period. Assenagon Asset Management S.A. raised its position in shares of Accenture by 2,666.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock worth $251,607,000 after acquiring an additional 689,366 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Accenture during the 3rd quarter worth $204,895,000. Finally, International Assets Investment Management LLC boosted its position in Accenture by 37,788.5% during the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after purchasing an additional 509,011 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several analyst reports. 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 research report on Friday, December 6th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Jefferies Financial Group reduced their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley upped their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.22.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela Beatty sold 375 shares of the business’s 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 sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.2 %

Accenture stock opened at $387.12 on Wednesday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The firm has a market cap of $242.26 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The business’s 50-day moving average price is $366.33 and its 200 day moving average price is $355.32. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the business posted $3.27 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

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.