OLD Point Trust & Financial Services N A Sells 973 Shares of Accenture plc (NYSE:ACN)

OLD Point Trust & Financial Services N A trimmed its stake in shares of Accenture plc (NYSE:ACN) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,273 shares of the information technology services provider’s stock after selling 973 shares during the quarter. Accenture makes up about 2.9% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 8th largest holding. OLD Point Trust & Financial Services N A’s holdings in Accenture were worth $8,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ACN. Newbridge Financial Services Group Inc. grew its position in Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the last quarter. FPC Investment Advisory Inc. boosted its stake in shares of 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 purchasing an additional 28 shares in the last quarter. Tradition Wealth Management LLC raised its position in Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares during the period. New England Professional Planning Group Inc. lifted its stake in Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after purchasing an additional 29 shares during the last quarter. Finally, TCW Group Inc. boosted its position in Accenture by 0.3% during the third quarter. TCW Group Inc. now owns 11,501 shares of the information technology services provider’s stock valued at $4,065,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Angie Y. Park sold 685 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the business’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 transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Accenture Trading Up 0.1 %

NYSE:ACN opened at $324.52 on Thursday. The firm has a market capitalization of $203.08 billion, a P/E ratio of 27.22, a PEG ratio of 3.23 and a beta of 1.24. 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 one year low of $278.69 and a one year high of $398.35. The company’s 50-day simple moving average is $361.19 and its 200 day simple moving average is $357.78.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $3.27 EPS. As a group, analysts forecast that Accenture plc will post 12.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACN shares. Jefferies Financial Group lowered their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. BMO Capital Markets lowered their price target on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a report on Tuesday. Stifel Nicolaus cut their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $384.45.

Accenture 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.