DSM Capital Partners LLC, a prominent investment firm, has recently disclosed a substantial decrease in its ownership of Accenture plc, a leading information technology services provider. According to a filing with the Securities & Exchange Commission, DSM Capital Partners LLC sold off approximately 99.9% of its stake in Accenture during the second quarter. The fund now holds a mere 255 shares, down from 234,912 shares previously held.
The value of DSM Capital Partners LLC’s remaining holdings in Accenture is estimated at $77,000, as reported in its most recent filing with the Securities & Exchange Commission. This reduction in stake by DSM Capital Partners LLC is part of a broader trend, with other institutional investors and hedge funds also adjusting their positions in the company.
One such investor, Unique Wealth Strategies LLC, recently acquired a new position in Accenture during the second quarter, purchasing shares worth around $26,000. Annapolis Financial Services LLC witnessed significant growth in its stake, with a 507.7% increase during the first quarter, now owning 79 shares valued at $27,000. Strategic Financial Concepts LLC also entered the market, acquiring shares worth approximately $28,000. Additionally, Ables Iannone Moore & Associates Inc. and Atwood & Palmer Inc. made new investments in Accenture, with the former purchasing shares valued at $29,000 during the fourth quarter and the latter raising its position by 214.8% in the first quarter.
Currently, institutional investors own approximately 75.14% of Accenture’s stock. The company’s stock performance has been noteworthy, with shares opening at $336.96 on Thursday. Over the past year, Accenture’s stock has ranged from a low of $278.69 to a high of $387.51. The company has a market capitalization of $211.17 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 3.69, and a beta of 1.24. The stock’s 50-day simple moving average stands at $332.73, while the two-hundred-day simple moving average is $321.04.
Analysts have recently provided their insights on Accenture’s performance. Citigroup, for instance, raised its price target on the company from $350.00 to $405.00 and assigned a “buy” rating. Bank of America, on the other hand, lowered its price target from $419.00 to $365.00 but maintained a “buy” rating. BMO Capital Markets reduced its price objective to $350.00 and gave Accenture a “market perform” rating. Morgan Stanley downgraded the stock from “overweight” to “equal weight” and cut the price target from $382.00 to $300.00. Finally, TD Cowen increased its price target from $293.00 to $321.00 and assigned a “hold” rating.