M&T Bank Corp Increases Stock Holdings in Accenture plc (NYSE:ACN)

M&T Bank Corp grew its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 240,673 shares of the information technology services provider's stock after buying an additional 11,293 shares during the period. M&T Bank Corp's holdings in Accenture were worth $84,667,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACN. Morse Asset Management Inc purchased a new stake in Accenture in the 3rd quarter valued at $25,000. FPC Investment Advisory Inc. raised its position in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after buying an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Accenture in the 3rd quarter valued at $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Accenture in the 4th quarter valued at $30,000. Finally, POM Investment Strategies LLC raised its position in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock valued at $31,000 after buying an additional 34 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Performance

Shares of NYSE ACN traded down $0.16 during trading on Friday, hitting $341.68. The company had a trading volume of 4,459,862 shares, compared to its average volume of 2,703,785. The stock has a 50 day simple moving average of $365.74 and a 200 day simple moving average of $358.27. 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 plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm has a market capitalization of $213.82 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

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Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion for 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 business's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.27 earnings per share. As a group, analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACN. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Robert W. Baird restated a "neutral" rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. UBS Group raised their target price on Accenture from $450.00 to $455.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Piper Sandler raised their target price on Accenture from $422.00 to $429.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $388.96.

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred 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 of the company's stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last quarter. 0.02% of the stock is owned by corporate insiders.

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.