Renasant Bank Has $425,000 Position in Accenture plc (NYSE:ACN)

Renasant Bank lifted its position in shares of Accenture plc (NYSE:ACN) by 7.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,207 shares of the information technology services provider’s stock after purchasing an additional 86 shares during the quarter. Renasant Bank’s holdings in Accenture were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter valued at about $25,000. FPC Investment Advisory Inc. raised its holdings 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 valued at $28,000 after acquiring an additional 28 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the third quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the fourth quarter worth approximately $30,000. Finally, POM Investment Strategies LLC lifted its holdings in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACN. JPMorgan Chase & Co. boosted their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. 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 research report on Thursday, December 19th. Morgan Stanley increased their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $388.96.

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 shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Accenture Trading Down 2.4 %

Shares of ACN stock opened at $316.48 on Friday. The stock has a 50-day moving average of $363.72 and a 200-day moving average of $358.10. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market cap of $198.05 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the firm earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

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.