Kintegral Advisory LLC Decreases Stock Position in Accenture plc (NYSE:ACN)

Kintegral Advisory LLC lowered its position in Accenture plc (NYSE:ACN) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,658 shares of the information technology services provider’s stock after selling 962 shares during the quarter. Kintegral Advisory LLC’s holdings in Accenture were worth $7,267,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp grew its stake in Accenture by 1.8% during the 3rd 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 boosted its stake in shares of Accenture by 378.9% during the 3rd 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. grew its position in shares of Accenture by 1.2% during 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 buying an additional 56,937 shares in the last quarter. Swedbank AB increased 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 buying an additional 1,212,011 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Accenture by 1.5% in the third quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock valued at $668,974,000 after acquiring an additional 28,491 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACN. Piper Sandler boosted their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, UBS Group lifted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Down 5.3 %

ACN opened at $364.35 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock’s 50 day moving average price is $367.48 and its 200 day moving average price is $356.12. The stock has a market cap of $228.00 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.46 and a beta of 1.24.

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, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.27 earnings per share. As a group, research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % 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 over the last three months. Corporate insiders own 0.02% of the company’s stock.

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.