Bath Savings Trust Co Cuts Stake in Accenture plc (NYSE:ACN)

Bath Savings Trust Co cut its holdings in Accenture plc (NYSE:ACN) by 0.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,168 shares of the information technology services provider’s stock after selling 175 shares during the quarter. Bath Savings Trust Co’s holdings in Accenture were worth $6,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL purchased a new position in Accenture during the first quarter worth $28,000. Barrett & Company Inc. purchased a new position in Accenture during the first quarter worth $29,000. Sageworth Trust Co boosted its stake in Accenture by 872.7% during the first quarter. Sageworth Trust Co now owns 107 shares of the information technology services provider’s stock worth $31,000 after buying an additional 96 shares during the period. Guardian Wealth Advisors LLC purchased a new position in Accenture during the first quarter worth $32,000. Finally, First Command Financial Services Inc. boosted its stake in Accenture by 131.6% during the first quarter. First Command Financial Services Inc. now owns 132 shares of the information technology services provider’s stock worth $38,000 after buying an additional 75 shares during the period. 70.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $300.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Accenture news, General Counsel Joel Unruch sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $320.60, for a total value of $2,244,200.00. Following the completion of the transaction, the general counsel now directly owns 36,034 shares of the company’s stock, valued at $11,552,500.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Melissa A. Burgum sold 1,344 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 10,506 shares of the company’s stock, valued at $3,151,800. The disclosure for this sale can be found here. Insiders have sold a total of 25,774 shares of company stock worth $8,138,451 over the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the subject of several research analyst reports. Piper Sandler upgraded Accenture from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $250.00 to $316.00 in a research report on Wednesday, June 14th. BMO Capital Markets downgraded Accenture from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on Accenture from $292.00 to $377.00 in a research report on Friday, June 9th. Robert W. Baird lifted their target price on Accenture from $316.00 to $332.00 and gave the stock a “neutral” rating in a research report on Friday, September 8th. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $335.25.

Accenture Price Performance

Accenture stock traded up $3.95 during trading hours on Monday, reaching $316.48. The stock had a trading volume of 565,026 shares, compared to its average volume of 2,302,988. Accenture plc has a 52 week low of $242.80 and a 52 week high of $330.43. The company has a market cap of $210.35 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.70 and a beta of 1.22. The business’s 50 day moving average price is $316.31 and its 200-day moving average price is $296.37.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.23. Accenture had a return on equity of 30.47% and a net margin of 11.28%. The business had revenue of $16.56 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Accenture plc will post 11.6 EPS for the current fiscal year.

About Accenture

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.