1ST Source Bank Boosts Stock Holdings in Accenture plc (NYSE:ACN)

1ST Source Bank grew its holdings in Accenture plc (NYSE:ACN) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,554 shares of the information technology services provider’s stock after purchasing an additional 48 shares during the quarter. 1ST Source Bank’s holdings in Accenture were worth $547,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Newbridge Financial Services Group Inc. raised its stake in shares of Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the period. FPC Investment Advisory Inc. raised its stake in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the period. Tradition Wealth Management LLC raised its stake in shares of Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after acquiring an additional 29 shares during the period. New England Professional Planning Group Inc. grew its holdings in Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after purchasing an additional 29 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in Accenture by 0.3% during the 3rd quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ACN shares. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a report on Monday. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets raised their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $388.04.

Accenture Trading Up 2.3 %

Shares of NYSE:ACN opened at $326.25 on Tuesday. The company has a market cap of $204.16 billion, a PE ratio of 27.37, a P/E/G ratio of 3.23 and a beta of 1.24. The company’s 50-day moving average price is $362.51 and its 200 day moving average price is $358.14. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

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

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by corporate insiders.

About Accenture

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.