Accenture plc (NYSE:ACN) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its position in shares of Accenture plc (NYSE:ACN) by 7.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,891 shares of the information technology services provider’s stock after buying an additional 453 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Accenture were worth $2,425,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ACN. Morse Asset Management Inc purchased a new position in Accenture during the third quarter worth about $25,000. MidAtlantic Capital Management Inc. purchased a new position in Accenture during the third quarter worth about $30,000. POM Investment Strategies LLC raised its stake in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Accenture during the fourth quarter worth about $34,000. Finally, Berbice Capital Management LLC purchased a new position in Accenture during the fourth quarter worth about $35,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACN. BMO Capital Markets boosted their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Jefferies Financial Group reduced their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research note on Wednesday, October 30th. Robert W. Baird reissued a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Finally, Piper Sandler boosted their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Trading Down 5.3 %

NYSE ACN opened at $364.35 on Friday. 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. The stock has a market capitalization of $228.00 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.24. The firm has a 50 day moving average of $367.48 and a two-hundred day moving average of $356.38.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the prior year, the business posted $3.27 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts expect 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.