Bank of Stockton Sells 218 Shares of Accenture plc (NYSE:ACN)

Bank of Stockton lowered its position in Accenture plc (NYSE:ACN) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,021 shares of the information technology services provider’s stock after selling 218 shares during the quarter. Bank of Stockton’s holdings in Accenture were worth $1,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Accenture by 378.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after acquiring an additional 4,345,039 shares in the last quarter. Swedbank AB boosted its position in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Accenture by 2,666.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider’s stock valued at $251,607,000 after acquiring an additional 689,366 shares in the last quarter. Holocene Advisors LP bought a new stake in Accenture during the 3rd quarter valued at $204,895,000. Finally, International Assets Investment Management LLC boosted its position in Accenture by 37,788.5% during the 3rd quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider’s stock valued at $180,401,000 after acquiring an additional 509,011 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE ACN opened at $385.06 on Friday. The stock has a 50-day simple moving average of $367.37 and a two-hundred day simple moving average of $355.77. The firm has a market capitalization of $240.97 billion, a P/E ratio of 32.30, a PEG ratio of 3.44 and a beta of 1.24. 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.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the business posted $3.27 EPS. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ACN shares. Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $387.22.

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.