First Bank & Trust decreased its position in shares of Accenture plc (NYSE:ACN – Free Report) by 8.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 703 shares of the information technology services provider’s stock after selling 69 shares during the period. First Bank & Trust’s holdings in Accenture were worth $217,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Accenture during the 1st quarter valued at approximately $28,000. Barrett & Company Inc. purchased a new position in Accenture in the 1st quarter worth approximately $29,000. Sageworth Trust Co raised its stake in Accenture by 872.7% during the 1st quarter. Sageworth Trust Co now owns 107 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 96 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new stake in Accenture during the 1st quarter valued at $32,000. Finally, First Command Financial Services Inc. raised its stake in Accenture by 131.6% during the 1st quarter. First Command Financial Services Inc. now owns 132 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.
Insider Transactions at Accenture
In other news, CAO Melissa A. Burgum sold 1,344 shares of the 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 sale, the chief accounting officer now directly owns 10,506 shares of the company’s stock, valued at $3,151,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value of $403,200.00. Following the transaction, the chief accounting officer now owns 10,506 shares in the company, valued at $3,151,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Leonardo Framil sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $311.52, for a total value of $934,560.00. Following the completion of the transaction, the chief executive officer now owns 16,898 shares in the company, valued at approximately $5,264,064.96. The disclosure for this sale can be found here. Insiders sold 25,774 shares of company stock valued at $8,138,451 over the last three months. 0.08% of the stock is owned by corporate insiders.
Accenture Stock Performance
Accenture (NYSE:ACN – Get Free Report) last announced its earnings results on Thursday, June 22nd. The information technology services provider reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.96 by $0.23. Accenture had a net margin of 11.28% and a return on equity of 30.47%. The firm had revenue of $16.56 billion during the quarter, compared to analyst estimates of $16.49 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. Accenture’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Accenture plc will post 11.6 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, September 11th. JPMorgan Chase & Co. increased 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. Piper Jaffray Companies decreased their price target on shares of Accenture from $316.00 to $314.00 and set a “neutral” rating for the company in a research note on Friday, June 23rd. TD Cowen lifted their price objective on shares of Accenture from $300.00 to $312.00 and gave the company a “market perform” rating in a report on Tuesday, September 12th. Finally, Piper Sandler raised shares of Accenture from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $250.00 to $316.00 in a report on Wednesday, June 14th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.
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