WASHINGTON TRUST Co trimmed its holdings in Accenture plc (NYSE:ACN - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,426 shares of the information technology services provider's stock after selling 1,462 shares during the period. Accenture accounts for 1.0% of WASHINGTON TRUST Co's holdings, making the stock its 20th largest position. WASHINGTON TRUST Co's holdings in Accenture were worth $28,293,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ACN. Baldwin Wealth Partners LLC MA raised its position in shares of 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 in the last quarter. Schrum Private Wealth Management LLC raised 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 valued at $4,047,000 after purchasing an additional 5,038 shares in the last quarter. MQS Management LLC bought a new stake in Accenture during the third quarter worth $1,040,000. Concurrent Investment Advisors LLC increased its stake in shares of Accenture by 70.6% in the 3rd 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 during the last quarter. Finally, M&G PLC raised its holdings in shares of Accenture by 34.1% during the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider's stock worth $103,361,000 after buying an additional 74,438 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.
Accenture Trading Up 0.8 %
Accenture stock traded up $3.16 during trading hours on Wednesday, reaching $390.72. 1,438,004 shares of the company's stock were exchanged, compared to its average volume of 2,711,225. The firm has a market capitalization of $244.51 billion, a PE ratio of 32.78, a PEG ratio of 3.44 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 firm's 50 day simple moving average is $366.33 and its 200 day simple moving average is $355.32. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35.
Accenture (NYSE:ACN - Get Free Report) last released its earnings results 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $17.15 billion. During the same quarter last year, the firm posted $3.27 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. Research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.
Insider Activity
In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares of the company's stock, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company's 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 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 ownership of the stock. 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.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Robert W. Baird reissued a "neutral" rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Jefferies Financial Group lowered their price target on shares of Accenture from $385.00 to $355.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Finally, BNP Paribas cut Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Accenture presently has a consensus rating of "Moderate Buy" and an average price target of $387.22.
Read Our Latest Analysis on Accenture
Accenture Profile
(
Free Report)
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.
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