Cape ANN Savings Bank Grows Position in Accenture plc (NYSE:ACN)

Cape ANN Savings Bank grew its position in shares of Accenture plc (NYSE:ACN) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,102 shares of the information technology services provider’s stock after acquiring an additional 64 shares during the quarter. Cape ANN Savings Bank’s holdings in Accenture were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in Accenture in the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. grew its holdings in shares of Accenture by 62.2% in the fourth 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 in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture during the third quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its holdings in Accenture by 64.2% during 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 period. Finally, Retirement Wealth Solutions LLC bought a new position in Accenture in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN opened at $364.35 on Monday. The firm has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.41 and a beta of 1.24. 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 stock’s 50-day simple moving average is $367.48 and its two-hundred day simple moving average is $356.65. Accenture plc has a twelve month low of $278.69 and a twelve month 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, 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 the consensus estimate of $17.15 billion. During the same period last year, the firm posted $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group lowered their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Finally, Morgan Stanley upped their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

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.