Accenture plc (NYSE:ACN) Shares Sold by Private Trust Co. NA

Private Trust Co. NA cut its position in Accenture plc (NYSE:ACN) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,253 shares of the information technology services provider’s stock after selling 194 shares during the quarter. Private Trust Co. NA’s holdings in Accenture were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Baldwin Wealth Partners LLC MA grew its stake in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its stake in shares of Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC grew its stake in shares of Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Accenture in the third quarter valued at $1,040,000. Finally, Concurrent Investment Advisors LLC grew its stake in shares of Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Down 2.4 %

Accenture stock opened at $348.28 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $217.95 billion, a P/E ratio of 29.22, a PEG ratio of 3.23 and a beta of 1.24. The stock has a 50-day simple moving average of $367.28 and a 200-day simple moving average of $357.56.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.27 EPS. Equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. UBS Group lifted their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average target price of $388.96.

Accenture 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.