NBT Bank N A NY Increases Stock Holdings in Accenture plc (NYSE:ACN)

NBT Bank N A NY increased its stake in Accenture plc (NYSE:ACN) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,862 shares of the information technology services provider’s stock after buying an additional 283 shares during the quarter. NBT Bank N A NY’s holdings in Accenture were worth $868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ACN. Unique Wealth Strategies LLC bought a new position in Accenture during the 2nd quarter valued at about $26,000. Annapolis Financial Services LLC boosted its position in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture in the fourth quarter worth approximately $29,000. Atwood & Palmer Inc. lifted its stake in shares of Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Accenture during the 4th quarter valued at $35,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler Companies lowered their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft lowered shares of Accenture from a “buy” rating to a “hold” rating and reduced their target price for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. TD Cowen lowered their price target on Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a report on Friday, June 21st. Guggenheim restated a “buy” rating and set a $395.00 price objective on shares of Accenture in a report on Friday, May 24th. Finally, Morgan Stanley downgraded Accenture from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $382.00 to $300.00 in a research report on Wednesday, June 26th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $352.33.

Accenture Trading Up 0.5 %

Shares of ACN stock traded up $1.74 during trading hours on Friday, reaching $341.95. 2,004,144 shares of the company’s stock were exchanged, compared to its average volume of 2,810,327. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock’s 50 day moving average is $319.98 and its 200-day moving average is $325.52. The company has a market cap of $214.30 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter last year, the business posted $3.19 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were paid a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.51%. Accenture’s payout ratio is 47.25%.

Insider Transactions at Accenture

In related news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. Company insiders own 0.07% of the company’s stock.

Accenture Profile

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.