First American Bank Purchases 172 Shares of Accenture plc (NYSE:ACN)

First American Bank grew its holdings in Accenture plc (NYSE:ACN) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,623 shares of the information technology services provider’s stock after acquiring an additional 172 shares during the quarter. Accenture accounts for approximately 1.5% of First American Bank’s investment portfolio, making the stock its 15th biggest position. First American Bank’s holdings in Accenture were worth $20,975,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Baldwin Wealth Partners LLC MA raised its holdings in Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the last quarter. Davidson Trust Co. raised its position in Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after buying an additional 158 shares during the last quarter. Schrum Private Wealth Management LLC lifted its position in shares of Accenture by 78.6% during the 3rd 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 in the last quarter. MQS Management LLC purchased a new position in Accenture in the third quarter worth $1,040,000. Finally, Concurrent Investment Advisors LLC boosted its stake in Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after acquiring an additional 14,724 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.4 %

ACN opened at $356.96 on Friday. The company has a market capitalization of $223.38 billion, a P/E ratio of 29.95, a PEG ratio of 3.23 and a beta of 1.24. The stock’s fifty day moving average is $367.64 and its two-hundred day moving average is $357.33. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 quarter in the prior year, the business posted $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Insider Buying and Selling

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This represents 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 available through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The stock was 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 in the company, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. BMO Capital Markets upped their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Wolfe Research raised shares of 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. Morgan Stanley lifted their target price on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Piper Sandler raised their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.