Accenture PLC $ACN Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. cut its stake in shares of Accenture PLC (NYSE:ACN) by 4.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,024 shares of the information technology services provider’s stock after selling 135 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Accenture were worth $904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Viawealth LLC boosted its position in Accenture by 2.6% during the 1st quarter. Viawealth LLC now owns 1,307 shares of the information technology services provider’s stock worth $408,000 after acquiring an additional 33 shares during the period. Aprio Wealth Management LLC lifted its holdings in shares of Accenture by 2.1% during the first quarter. Aprio Wealth Management LLC now owns 1,640 shares of the information technology services provider’s stock valued at $512,000 after purchasing an additional 33 shares during the last quarter. First National Advisers LLC lifted its holdings in shares of Accenture by 0.4% during the first quarter. First National Advisers LLC now owns 9,420 shares of the information technology services provider’s stock valued at $2,939,000 after purchasing an additional 34 shares during the last quarter. TCTC Holdings LLC lifted its holdings in shares of Accenture by 14.5% during the first quarter. TCTC Holdings LLC now owns 269 shares of the information technology services provider’s stock valued at $84,000 after purchasing an additional 34 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA lifted its holdings in shares of Accenture by 0.3% during the first quarter. Spectrum Asset Management Inc. NB CA now owns 11,777 shares of the information technology services provider’s stock valued at $3,675,000 after purchasing an additional 35 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Mauro Macchi sold 500 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the sale, the chief executive officer directly owned 2,283 shares of the company’s stock, valued at $644,582.22. This trade represents a 17.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares of the company’s stock, valued at $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,954 shares of company stock worth $834,280 in the last 90 days. 0.02% of the stock is owned by company insiders.

Accenture Price Performance

Shares of ACN stock opened at $240.65 on Friday. The stock has a 50 day moving average of $257.73 and a two-hundred day moving average of $289.79. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12 month low of $234.18 and a 12 month high of $398.35. The company has a market capitalization of $150.73 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.07 and a beta of 1.29.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $3.13 EPS. As a group, equities analysts expect that Accenture PLC will post 12.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACN. HSBC initiated coverage on Accenture in a research report on Monday, July 28th. They set a “reduce” rating and a $240.00 price target on the stock. Evercore ISI initiated coverage on Accenture in a report on Thursday, July 17th. They set an “outperform” rating and a $330.00 price objective on the stock. BMO Capital Markets lowered their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday, June 23rd. Barclays decreased their target price on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a research note on Monday, June 23rd. Finally, Robert W. Baird decreased their target price on Accenture from $372.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $335.39.

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.