First National Trust Co Sells 2,120 Shares of Accenture plc (NYSE:ACN)

First National Trust Co lessened its holdings in shares of Accenture plc (NYSE:ACN) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,726 shares of the information technology services provider’s stock after selling 2,120 shares during the quarter. First National Trust Co’s holdings in Accenture were worth $5,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morse Asset Management Inc bought a new stake in Accenture in the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. increased its stake in Accenture by 62.2% in the 4th 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 last quarter. MidAtlantic Capital Management Inc. bought a new stake in Accenture in the 3rd quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture in the 4th quarter worth approximately $30,000. Finally, POM Investment Strategies LLC increased 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 worth $31,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of a number of research reports. BMO Capital Markets lifted 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. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Stifel Nicolaus dropped their target price on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Stock Down 2.4 %

Accenture stock opened at $316.48 on Friday. 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 business’s 50-day simple moving average is $363.72 and its two-hundred day simple moving average is $358.10. The company has a market cap of $198.05 billion, a PE ratio of 26.55, a PEG ratio of 3.23 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.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. The business 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%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.27 EPS. Equities analysts anticipate that Accenture plc will post 12.73 EPS 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.