Parkside Financial Bank & Trust Has $17.44 Million Stock Position in Accenture plc (NYSE:ACN)

Parkside Financial Bank & Trust trimmed its holdings in Accenture plc (NYSE:ACN) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,560 shares of the information technology services provider’s stock after selling 185 shares during the quarter. Accenture comprises about 2.3% of Parkside Financial Bank & Trust’s investment portfolio, making the stock its 7th biggest holding. Parkside Financial Bank & Trust’s holdings in Accenture were worth $17,435,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Swedbank AB boosted its holdings in shares of Accenture by 16.6% in the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after buying an additional 363,401 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Accenture in the third quarter worth approximately $577,000. Pinnacle Associates Ltd. boosted its holdings in shares of Accenture by 8.2% in the third quarter. Pinnacle Associates Ltd. now owns 30,431 shares of the information technology services provider’s stock worth $10,678,000 after buying an additional 2,299 shares during the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of Accenture by 10.2% in the third quarter. SteelPeak Wealth LLC now owns 1,023 shares of the information technology services provider’s stock worth $362,000 after buying an additional 95 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of Accenture by 547.1% in the third quarter. JFS Wealth Advisors LLC now owns 3,158 shares of the information technology services provider’s stock worth $1,116,000 after buying an additional 2,670 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

Accenture stock opened at $356.96 on Friday. The firm has a market cap of $223.38 billion, a PE ratio of 29.95, a price-to-earnings-growth 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. The company’s 50 day moving average is $367.64 and its two-hundred day moving average is $357.33.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period last year, the business earned $3.27 EPS. The company’s revenue was up 9.0% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ACN shares. Piper Sandler lifted their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and increased their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Stifel Nicolaus cut their price target on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday. BMO Capital Markets increased their price target on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

Insider Activity at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Insiders own 0.02% of the company’s stock.

Accenture Company 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.