Accenture plc (NYSE:ACN) Shares Sold by American National Bank

American National Bank lowered its stake in shares of Accenture plc (NYSE:ACN) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,963 shares of the information technology services provider’s stock after selling 2,506 shares during the quarter. Accenture comprises about 1.8% of American National Bank’s holdings, making the stock its 13th largest position. American National Bank’s holdings in Accenture were worth $10,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashburton Jersey Ltd purchased a new position in shares of Accenture during the first quarter worth about $143,000. Curated Wealth Partners LLC grew its holdings in shares of Accenture by 3.6% during the second quarter. Curated Wealth Partners LLC now owns 2,029 shares of the information technology services provider’s stock worth $626,000 after buying an additional 71 shares during the last quarter. GW Henssler & Associates Ltd. purchased a new position in shares of Accenture during the first quarter worth about $207,000. Gradient Investments LLC boosted its holdings in Accenture by 1.5% in the 2nd quarter. Gradient Investments LLC now owns 52,557 shares of the information technology services provider’s stock valued at $16,218,000 after purchasing an additional 789 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Accenture by 12.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 97,668 shares of the information technology services provider’s stock valued at $27,914,000 after purchasing an additional 10,994 shares in the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.

Insider Buying and Selling

In related news, CAO Melissa A. Burgum sold 1,344 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $300.00, for a total transaction of $403,200.00. Following the completion of the sale, the chief accounting officer now directly owns 10,506 shares in the company, valued at $3,151,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $316.19, for a total value of $1,976,187.50. Following the completion of the transaction, the insider now owns 167,854 shares of the company’s stock, valued at approximately $53,073,756.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,344 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $300.00, for a total transaction of $403,200.00. Following the completion of the sale, the chief accounting officer now owns 10,506 shares of the company’s stock, valued at approximately $3,151,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,774 shares of company stock worth $8,138,451. Corporate insiders own 0.08% of the company’s stock.

Accenture Trading Up 1.1 %

Shares of NYSE:ACN opened at $315.91 on Tuesday. The firm’s 50 day moving average is $316.31 and its two-hundred day moving average is $296.37. The firm has a market capitalization of $209.97 billion, a P/E ratio of 28.16, a PEG ratio of 2.67 and a beta of 1.22. Accenture plc has a 52 week low of $242.80 and a 52 week high of $330.43.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.23. The business had revenue of $16.56 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Accenture had a net margin of 11.28% and a return on equity of 30.47%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $2.79 earnings per share. Analysts predict that Accenture plc will post 11.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACN. Barclays lifted their price objective on Accenture from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, September 11th. Piper Sandler raised Accenture from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $250.00 to $316.00 in a research note on Wednesday, June 14th. TD Cowen lifted their price objective on Accenture from $300.00 to $312.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 12th. Stifel Nicolaus lifted their price objective on Accenture from $310.00 to $343.00 in a research report on Thursday, June 15th. Finally, Societe Generale lifted their price objective on Accenture from $314.00 to $373.00 and gave the stock a “buy” rating in a research report on Friday, July 7th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $335.25.

Accenture Profile

Accenture plc, a professional services company, provides strategy and consulting, interactive, 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 comprises 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 comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.