DSM Capital Partners LLC Cuts Stock Position in Accenture plc (NYSE:ACN)

DSM Capital Partners LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 99.9% in the 2nd quarter, Holdings Channel reports. The firm owned 255 shares of the information technology services provider’s stock after selling 234,912 shares during the period. DSM Capital Partners LLC’s holdings in Accenture were worth $77,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ACN. Annapolis Financial Services LLC boosted its stake in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Accenture during the 4th quarter worth $29,000. Atwood & Palmer Inc. lifted its stake in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in Accenture during the second quarter worth about $26,000. Finally, Grayhawk Investment Strategies Inc. acquired a new stake in Accenture in the 4th quarter valued at about $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Price Performance

Shares of NYSE ACN opened at $336.96 on Thursday. The stock’s 50-day moving average is $332.73 and its two-hundred day moving average is $321.04. The company has a market cap of $211.17 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 3.69 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the sale, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 over the last 90 days. 0.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on ACN. Jefferies Financial Group cut their price target on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a report on Wednesday, June 5th. BMO Capital Markets cut their price objective on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, June 21st. Stifel Nicolaus decreased their target price on shares of Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. Mizuho lifted their price target on shares of Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Accenture from $376.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $356.14.

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.