Gateway Investment Advisers LLC Sells 3,951 Shares of Accenture plc (NYSE:ACN)

Gateway Investment Advisers LLC trimmed its position in Accenture plc (NYSE:ACNFree Report) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,812 shares of the information technology services provider’s stock after selling 3,951 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Accenture were worth $13,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Accenture by 0.3% in the third quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock valued at $17,945,673,000 after acquiring an additional 184,541 shares during the period. State Street Corp lifted its position in shares of Accenture by 0.7% during the 2nd quarter. State Street Corp now owns 26,644,296 shares of the information technology services provider’s stock worth $8,221,897,000 after buying an additional 190,412 shares during the period. Morgan Stanley grew its position in Accenture by 14.9% in the fourth quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after acquiring an additional 2,163,582 shares during the period. FMR LLC grew its holdings in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after purchasing an additional 565,505 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Accenture by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 11,816,701 shares of the information technology services provider’s stock valued at $3,636,842,000 after purchasing an additional 353,521 shares during the last quarter. 70.42% of the stock is owned by institutional investors.

Accenture Trading Down 1.0 %

NYSE:ACN opened at $374.60 on Monday. Accenture plc has a 1 year low of $243.52 and a 1 year high of $387.51. The stock has a market cap of $234.99 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 3.51 and a beta of 1.20. The stock has a 50-day moving average price of $368.57 and a two-hundred day moving average price of $338.97.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings results on Tuesday, December 19th. The information technology services provider reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.13. Accenture had a net margin of 10.65% and a return on equity of 29.08%. The firm had revenue of $16.22 billion for the quarter, compared to analyst estimates of $16.17 billion. During the same quarter in the previous year, the firm posted $3.08 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that Accenture plc will post 12.21 earnings per share for the current year.

Analysts Set New Price Targets

ACN has been the subject of a number of research analyst reports. Citigroup lifted their target price on shares of Accenture from $385.00 to $430.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird increased their target price on Accenture from $364.00 to $375.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Royal Bank of Canada reissued an “outperform” rating and set a $374.00 price objective on shares of Accenture in a report on Tuesday, February 20th. Wedbush upped their price objective on Accenture from $330.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, December 14th. Finally, Bank of America raised their price target on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.45.

Get Our Latest Report on Accenture

Insider Buying and Selling at Accenture

In other news, Director Paula A. Price sold 551 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $345.36, for a total transaction of $190,293.36. Following the completion of the transaction, the director now directly owns 6,583 shares of the company’s stock, valued at approximately $2,273,504.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.81, for a total value of $1,859,050.00. Following the completion of the transaction, the insider now directly owns 20,316 shares in the company, valued at $7,553,691.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Paula A. Price sold 551 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $345.36, for a total value of $190,293.36. Following the completion of the sale, the director now directly owns 6,583 shares of the company’s stock, valued at approximately $2,273,504.88. The disclosure for this sale can be found here. Insiders have sold 26,551 shares of company stock valued at $9,739,791 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

About Accenture

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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