US Bancorp DE Sells 11,962 Shares of Accenture plc (NYSE:ACN)

US Bancorp DE decreased its position in shares of Accenture plc (NYSE:ACN) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,105,074 shares of the information technology services provider’s stock after selling 11,962 shares during the quarter. US Bancorp DE owned about 0.18% of Accenture worth $388,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ACN. Morse Asset Management Inc bought a new position in Accenture in the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. lifted its stake in Accenture by 62.2% in the fourth 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new position in Accenture in the third quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its stake in Accenture by 64.2% in the fourth 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 in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Accenture in the fourth quarter valued at approximately $34,000. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Piper Sandler lifted 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. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Stifel Nicolaus lowered their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $388.96.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated 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 sale, the insider now directly 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. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last ninety days. Insiders own 0.02% of the company’s stock.

Accenture Price Performance

NYSE:ACN opened at $348.28 on Friday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company has a market cap of $217.95 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.23 and a beta of 1.24. The firm’s fifty day moving average price is $367.28 and its two-hundred day moving average price is $357.56. 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 (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 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 firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the company earned $3.27 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

About Accenture

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.