Coastline Trust Co Acquires 110 Shares of Accenture plc (NYSE:ACN)

Coastline Trust Co increased its holdings in shares of Accenture plc (NYSE:ACN) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,500 shares of the information technology services provider’s stock after purchasing an additional 110 shares during the period. Accenture accounts for 0.8% of Coastline Trust Co’s holdings, making the stock its 28th biggest holding. Coastline Trust Co’s holdings in Accenture were worth $5,573,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GW Henssler & Associates Ltd. acquired a new stake in Accenture in the first quarter valued at approximately $207,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Accenture by 12.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 97,668 shares of the information technology services provider’s stock worth $27,914,000 after purchasing an additional 10,994 shares during the last quarter. Alpha Financial Partners LLC purchased a new position in shares of Accenture during the fourth quarter worth $263,000. Main Street Financial Solutions LLC raised its holdings in shares of Accenture by 10.7% during the first quarter. Main Street Financial Solutions LLC now owns 2,792 shares of the information technology services provider’s stock worth $799,000 after purchasing an additional 271 shares during the last quarter. Finally, Aspen Grove Capital LLC purchased a new position in shares of Accenture during the fourth quarter worth $1,437,000. 70.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 1,344 shares of the company’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 value of $403,200.00. Following the transaction, the chief accounting officer now directly owns 10,506 shares in the company, valued at approximately $3,151,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Accenture news, CEO Julie Spellman Sweet sold 2,930 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $316.23, for a total transaction of $926,553.90. Following the sale, the chief executive officer now directly owns 21,982 shares in the company, valued at approximately $6,951,367.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 sale, the chief accounting officer now owns 10,506 shares in the company, valued at $3,151,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,774 shares of company stock worth $8,138,451. 0.08% of the stock is currently owned by insiders.

Accenture Stock Down 0.1 %

Shares of Accenture stock traded down $0.42 during mid-day trading on Wednesday, hitting $314.47. The stock had a trading volume of 1,092,940 shares, compared to its average volume of 2,301,110. The firm has a 50-day moving average of $315.93 and a two-hundred day moving average of $295.33. Accenture plc has a 12-month low of $242.80 and a 12-month high of $330.43. The firm has a market cap of $209.01 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.79 and a beta of 1.22.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share for the quarter, beating the consensus estimate of $2.96 by $0.23. Accenture had a net margin of 11.28% and a return on equity of 30.47%. The business had revenue of $16.56 billion during the quarter, compared to analysts’ expectations of $16.49 billion. During the same quarter in the prior year, the company posted $2.79 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 11.59 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on ACN. Deutsche Bank Aktiengesellschaft raised their target price on shares of Accenture from $292.00 to $377.00 in a report on Friday, June 9th. Robert W. Baird upped their price objective on shares of Accenture from $316.00 to $332.00 and gave the stock a “neutral” rating in a research report on Friday, September 8th. Stifel Nicolaus upped their price objective on shares of Accenture from $310.00 to $343.00 in a research report on Thursday, June 15th. Piper Sandler upgraded shares of Accenture from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $250.00 to $316.00 in a research report on Wednesday, June 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Accenture from $314.00 to $341.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 22nd. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $335.25.

Accenture Company 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.