Amalgamated Bank Trims Stock Holdings in Accenture plc (NYSE:ACN)

Amalgamated Bank lessened its stake in shares of Accenture plc (NYSE:ACN) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,959 shares of the information technology services provider’s stock after selling 2,998 shares during the quarter. Amalgamated Bank’s holdings in Accenture were worth $43,256,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vaughan David Investments LLC IL raised its stake in shares of Accenture by 1.1% during the fourth quarter. Vaughan David Investments LLC IL now owns 134,196 shares of the information technology services provider’s stock worth $47,209,000 after purchasing an additional 1,458 shares during the last quarter. EdgeRock Capital LLC raised its stake in shares of Accenture by 9.5% during the fourth quarter. EdgeRock Capital LLC now owns 716 shares of the information technology services provider’s stock worth $252,000 after purchasing an additional 62 shares during the last quarter. Synergy Financial Group LTD grew its holdings in Accenture by 23.5% during the fourth quarter. Synergy Financial Group LTD now owns 1,191 shares of the information technology services provider’s stock worth $419,000 after acquiring an additional 227 shares during the period. Trifecta Capital Advisors LLC grew its holdings in Accenture by 2,249.2% during the fourth quarter. Trifecta Capital Advisors LLC now owns 1,386 shares of the information technology services provider’s stock worth $488,000 after acquiring an additional 1,327 shares during the period. Finally, BankPlus Trust Department acquired a new position in Accenture during the fourth quarter worth $2,952,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. BMO Capital Markets upped their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Morgan Stanley upped their target price on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Piper Sandler upped their target price on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

ACN stock opened at $363.66 on Tuesday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The stock has a 50-day simple moving average of $367.61 and a 200-day simple moving average of $356.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $227.58 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the firm earned $3.27 EPS. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of Accenture 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

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.