Accenture plc (NYSE:ACN) Shares Acquired by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. lifted its position in shares of Accenture plc (NYSE:ACN) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,382 shares of the information technology services provider’s stock after acquiring an additional 52 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Accenture were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Baldwin Wealth Partners LLC MA grew its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after buying an additional 3,883 shares during the period. Davidson Trust Co. grew its position in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after buying an additional 158 shares during the period. Schrum Private Wealth Management LLC grew its position in Accenture by 78.6% during the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after buying an additional 5,038 shares during the period. MQS Management LLC acquired a new position in Accenture during the third quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC grew its position in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Down 2.4 %

Accenture stock opened at $348.28 on Friday. 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 firm has a 50-day moving average price of $367.28 and a two-hundred day moving average price of $357.56. The firm 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.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS 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 company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the firm earned $3.27 EPS. Accenture’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ACN. JPMorgan Chase & Co. upped their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Stifel Nicolaus reduced their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group reduced 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. Piper Sandler upped 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. Finally, Morgan Stanley upped their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $388.96.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. 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. 0.02% of the stock is owned by corporate insiders.

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.