Farmers Trust Co. Buys New Shares in Accenture plc (NYSE:ACN)

Farmers Trust Co. purchased a new position in Accenture plc (NYSE:ACNFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 575 shares of the information technology services provider’s stock, valued at approximately $202,000.

A number of other large investors also recently added to or reduced their stakes in ACN. Vanguard Group Inc. lifted its stake in Accenture by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after purchasing an additional 184,541 shares in the last quarter. State Street Corp lifted its position in shares of Accenture by 0.7% in the second quarter. State Street Corp now owns 26,644,296 shares of the information technology services provider’s stock worth $8,221,897,000 after buying an additional 190,412 shares in the last quarter. Morgan Stanley raised its holdings in shares of Accenture by 14.9% during the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after acquiring an additional 2,163,582 shares in the last quarter. FMR LLC raised its holdings in shares of Accenture by 4.4% during the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after acquiring an additional 565,505 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Accenture by 3.1% during the 2nd quarter. Geode Capital Management LLC now owns 11,816,701 shares of the information technology services provider’s stock worth $3,636,842,000 after acquiring an additional 353,521 shares in the last quarter. 70.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Melissa A. Burgum sold 3,010 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.80, for a total value of $1,119,118.00. Following the completion of the transaction, the chief accounting officer now owns 9,193 shares of the company’s stock, valued at $3,417,957.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of Accenture stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.80, for a total value of $1,119,118.00. Following the transaction, the chief accounting officer now owns 9,193 shares in the company, valued at $3,417,957.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $371.83, for a total value of $1,611,139.39. Following the completion of the transaction, the general counsel now owns 34,795 shares in the company, valued at approximately $12,937,824.85. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock valued at $9,739,791 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Down 1.0 %

ACN opened at $374.60 on Friday. The stock’s fifty day moving average is $368.57 and its two-hundred day moving average is $338.86. The company has a market capitalization of $234.99 billion, a P/E ratio of 34.72, a PEG ratio of 3.51 and a beta of 1.20. Accenture plc has a 52 week low of $243.52 and a 52 week high of $387.51.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Tuesday, December 19th. The information technology services provider reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.13. The firm had revenue of $16.22 billion during the quarter, compared to the consensus estimate of $16.17 billion. Accenture had a return on equity of 29.08% and a net margin of 10.65%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.08 earnings per share. Equities analysts anticipate that Accenture plc will post 12.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACN. Robert W. Baird upped their price target on shares of Accenture from $364.00 to $375.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Morgan Stanley upped their target price on shares of Accenture from $369.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Mizuho started coverage on Accenture in a research report on Tuesday, January 30th. They set a “buy” rating and a $426.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $374.00 price objective on shares of Accenture in a research report on Tuesday, February 20th. Finally, BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price target for the company in a research report on Wednesday, January 17th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $372.45.

Get Our Latest Stock Report on Accenture

Accenture Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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