US Bancorp DE Sells 11,962 Shares of Accenture plc (NYSE:ACN)

US Bancorp DE decreased its position in shares of Accenture plc (NYSE:ACN) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,105,074 shares of the information technology services provider’s stock after selling 11,962 shares during the quarter. US Bancorp DE’s holdings in Accenture were worth $388,757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morse Asset Management Inc bought a new stake in Accenture during the third quarter worth about $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth about $30,000. POM Investment Strategies LLC lifted its holdings in shares of Accenture by 64.2% in the fourth 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. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Accenture in the fourth quarter worth about $34,000. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Accenture Price Performance

Accenture stock opened at $348.28 on Friday. The stock has a market capitalization of $217.95 billion, a price-to-earnings ratio of 29.22, a PEG 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 stock’s 50 day moving average price is $367.28 and its two-hundred day moving average price is $357.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 EPS. On average, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of research reports. Robert W. Baird reissued a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. UBS Group upped their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $388.96.

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.