Bank of Jackson Hole Trust Acquires Shares of 2,873 Accenture plc (NYSE:ACN)

Bank of Jackson Hole Trust bought a new position in shares of Accenture plc (NYSE:ACN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,873 shares of the information technology services provider's stock, valued at approximately $1,011,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Baldwin Wealth Partners LLC MA boosted its stake 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 in the last quarter. Davidson Trust Co. boosted its position in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock valued at $812,000 after acquiring an additional 158 shares in the last quarter. Schrum Private Wealth Management LLC increased its stake in Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider's stock valued at $4,047,000 after acquiring an additional 5,038 shares during the period. MQS Management LLC acquired a new position in Accenture in the third quarter worth about $1,040,000. Finally, Concurrent Investment Advisors LLC boosted its holdings 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 valued at $12,581,000 after purchasing an additional 14,724 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business'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 transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the transaction, the general counsel now directly owns 20,526 shares in the company, valued at approximately $7,446,422.28. This represents a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last ninety days. Corporate insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the subject of several analyst reports. Robert W. Baird restated a "neutral" rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Morgan Stanley boosted 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. BMO Capital Markets increased 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 upgraded shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price target on the stock in a research report on Wednesday, January 8th. 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 research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $387.22.

Accenture Price Performance

NYSE:ACN traded down $20.49 during trading hours on Friday, hitting $364.35. The company's stock had a trading volume of 3,747,836 shares, compared to its average volume of 2,728,130. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The company has a market capitalization of $228.00 billion, a P/E ratio of 30.57, a PEG ratio of 3.46 and a beta of 1.24. The stock has a fifty day simple moving average of $367.37 and a 200-day simple moving average of $355.77.

Accenture (NYSE:ACN - Get Free Report) last issued 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. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.27 earnings per share. On average, analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Company 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.