Insider Selling

Accenture’s Insiders file Form 144s while the stock price fluctuates

The image's background depicts Hands with laptop and virtual world map, with the blog introduction mentioning the multiple insiders filed Form 144 of $ACR on top.

Based in Ireland, Accenture PLC (ACN: US) is a provider of strategy consulting as well as technical services to customers worldwide. The company services multiple sectors from banking, and insurance, to healthcare. 

With a current Market Cap of almost $176.8 billion, Accenture has been making positive developments this year. These include a recent acquisition and a stellar earnings report for its fiscal year 2022. But on the other hand, insiders at the company have been filing intentions to sell.

Insiders' Intentions to Sell

Three insiders at Accenture disclosed plans to sell significant amounts of company stock on October 21. All the intentions were filed via the same broker - UBS Financial Services and when ACN’s stock price was at $269.57 per share: 

  • Chairperson and CEO - Julie Spellman Sweet plans to sell 25,800 shares at an estimated value of $6.95 million 
  • Chief Accounting Officer - Richard P. Clark filed his form for 1,732 shares for almost $467,000
  • Divisional CEO - Gianfranco Casati filed his form for 15,914 shares worth almost $4.29 million 
  • Chief Operating Officer - Manish Sharma filed his form for 8,424 shares valued at around $4.26 million. 

Later, on October 24, two more intentions followed at a value of $275.31 per share:

  • Divisional CEO, Gianfranco Casati filed another form for 12,663 shares, at a total value of nearly $3.49 million
  • General Counsel/Secretary, Joel Scott Unruch filed his own Form 144 for 556 shares at a much small value of approximately $153,000

Additionally, all the aforementioned insiders are frequent traders of ACN stock who have filed Form 144s on other occasions this year. Presently, the company’s General Counsel - Joel Scott Unruch - is the only insider who sold all the 556 shares he planned to sell, from $271.8 to $276.63 value per ACN share.

Stock Prices & Earnings

Accenture’s fiscal year for 2022 ended on August 31, 2022, and listed revenues going up to $61.59 billion. Year-on-year, this marked an increase of almost 21.89%. Furthermore, the company’s basic earnings per share amounted to $10.87 per share and diluted earnings per share were $10.71. 

The above earnings were made public on September 22, 2022, and although, the company’s stock value has been fluctuating since then. Year-to-date, ACN’s stock has declined by nearly 31.09%. 

In further positive news, Accenture announced a partnership with Toshiba on October 4, 2022, to develop more sustainable solutions and narrow down carbon footprints. Prior to this, Accenture also acquired Carbon Intelligence as reported on September 1, 2022. All this can surmise that Accenture is taking steps to ensure its positive impact on the changing environment while also solidifying its future as a service provider. The stock pricing higher since October 12 can be a testament to this, but Insiders filing Form 144s may send different signals. 

Recent Articles