United Community Bank Boosts Position in Accenture plc (NYSE:ACN)

United Community Bank grew its stake in Accenture plc (NYSE:ACN) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,069 shares of the information technology services provider’s stock after buying an additional 30 shares during the quarter. United Community Bank’s holdings in Accenture were worth $728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. boosted 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 acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture in the fourth quarter worth about $30,000. Finally, POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. 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 currently owned by company insiders.

Analyst Ratings Changes

ACN has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. BMO Capital Markets upped their price objective on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. increased their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. UBS Group increased their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Accenture Trading Down 0.0 %

ACN opened at $341.68 on Friday. The stock’s fifty day moving average is $365.74 and its two-hundred day moving average is $358.46. The company has a market capitalization of $213.82 billion, a P/E ratio of 28.66, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 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 data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $3.27 EPS. Analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

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.