Plimoth Trust Co. LLC Acquires 347 Shares of Accenture PLC (NYSE:ACN)

Plimoth Trust Co. LLC increased its stake in shares of Accenture PLC (NYSE:ACN) by 6.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 5,912 shares of the information technology services provider’s stock after buying an additional 347 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Accenture were worth $1,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. FPC Investment Advisory Inc. raised its position 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 buying an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture in the 4th quarter valued at $31,000. Finally, Promus Capital LLC acquired a new position in shares of Accenture during the 4th quarter worth $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Beatty sold 169 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares in the company, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by corporate insiders.

Accenture Stock Down 1.9%

Shares of NYSE ACN opened at $306.11 on Thursday. Accenture PLC has a 52-week low of $275.01 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.48 and a current ratio of 1.48. The company’s 50 day moving average price is $306.52 and its 200-day moving average price is $334.70. The company has a market capitalization of $191.72 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. Accenture had a net margin of 11.43% and a return on equity of 26.49%. The business had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same quarter in the prior year, the firm posted $2.77 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Guggenheim decreased their price target on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. UBS Group reissued a “buy” rating and issued a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Morgan Stanley decreased their target price on shares of Accenture from $372.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a report on Monday. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.00.

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.