Los Angeles Capital Management LLC Sells 165,594 Shares of Accenture plc (NYSE:ACN)

Los Angeles Capital Management LLC lowered its holdings in Accenture plc (NYSE:ACN) by 58.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,487 shares of the information technology services provider’s stock after selling 165,594 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Accenture were worth $41,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank acquired a new stake in shares of Accenture in the 4th quarter worth about $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Accenture by 100.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after purchasing an additional 875,723 shares in the last quarter. Winslow Capital Management LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $288,168,000. Generation Investment Management LLP purchased a new stake in Accenture in the 4th quarter valued at $286,220,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Accenture during the 4th quarter valued at $263,421,000. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 0.1 %

Shares of NYSE ACN opened at $285.35 on Thursday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a market cap of $191.40 billion, a P/E ratio of 25.87, a P/E/G ratio of 3.11 and a beta of 1.21. The business has a 50-day simple moving average of $301.66 and a two-hundred day simple moving average of $337.67.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.69 EPS. Equities research analysts anticipate that Accenture plc will post 12.07 EPS for the current year.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Joel Unruch sold 4,333 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the transaction, the general counsel now directly owns 30,702 shares of the company’s stock, valued at approximately $9,705,516.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACN. Deutsche Bank Aktiengesellschaft lowered shares of Accenture from a “buy” rating to a “hold” rating and dropped their price target for the company from $409.00 to $295.00 in a research report on Wednesday, May 15th. Piper Sandler cut their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday. Piper Sandler Companies decreased their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday. Robert W. Baird cut their price objective on Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Finally, BMO Capital Markets decreased their target price on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $360.50.

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.