Accenture plc (NYSE:ACN) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky trimmed its holdings in shares of Accenture plc (NYSE:ACNFree Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,786 shares of the information technology services provider’s stock after selling 238 shares during the period. Independence Bank of Kentucky’s holdings in Accenture were worth $2,387,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ACN. Morse Asset Management Inc acquired a new position in shares of Accenture in the third quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new position in Accenture in the 3rd quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture during the 4th quarter worth about $34,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after buying an additional 85 shares in the last quarter. Finally, Berbice Capital Management LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $387.22.

View Our Latest Stock Analysis on ACN

Insider Activity at Accenture

In other news, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the sale, the chief executive officer now owns 6 shares of the company’s stock, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the transaction, the general counsel now owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,446 shares of company stock valued at $5,852,848. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of NYSE:ACN opened at $384.88 on Friday. The business’s 50-day simple moving average is $359.56 and its 200 day simple moving average is $349.88. The company has a market cap of $240.86 billion, a P/E ratio of 32.29, a PEG ratio of 3.33 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACNGet Free Report) last posted its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 earnings per share. On average, sell-side analysts forecast that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

About Accenture

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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