First American Bank Acquires 172 Shares of Accenture plc (NYSE:ACN)

First American Bank lifted its holdings in Accenture plc (NYSE:ACN) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,623 shares of the information technology services provider’s stock after purchasing an additional 172 shares during the period. Accenture accounts for about 1.5% of First American Bank’s investment portfolio, making the stock its 15th biggest holding. First American Bank’s holdings in Accenture were worth $20,975,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Morse Asset Management Inc acquired a new stake in Accenture in the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. lifted its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture during the 3rd quarter worth $30,000. POM Investment Strategies LLC grew its stake in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter worth $34,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 0.4 %

ACN opened at $356.96 on Friday. The firm’s fifty day simple moving average is $367.64 and its 200 day simple moving average is $357.33. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a market capitalization of $223.38 billion, a P/E ratio of 29.95, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $17.15 billion. During the same period last year, the company earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ACN shares. UBS Group lifted their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Piper Sandler upped their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley boosted their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.