Morton Community Bank Has $3.93 Million Position in Accenture plc (NYSE:ACN)

Morton Community Bank raised its stake in Accenture plc (NYSE:ACN) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 11,182 shares of the information technology services provider’s stock after purchasing an additional 94 shares during the quarter. Morton Community Bank’s holdings in Accenture were worth $3,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ACN. State Street Corp grew its holdings in shares of Accenture by 1.8% during the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after purchasing an additional 471,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Accenture by 378.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Accenture by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock worth $1,746,455,000 after acquiring an additional 140,726 shares during the last quarter. Amundi raised its position in Accenture by 27.9% during the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock valued at $1,353,909,000 after purchasing an additional 826,038 shares in the last quarter. Finally, Swedbank AB grew its holdings in Accenture by 47.5% in the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ACN. Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. Finally, Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a report on Wednesday, January 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.96.

Accenture Price Performance

ACN opened at $341.68 on Monday. The company has a 50 day moving average of $365.74 and a two-hundred day moving average of $358.64. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market cap of $213.82 billion, a P/E ratio of 28.66, a P/E/G ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) 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, analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Insider Activity at Accenture

In other news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock valued at $8,316,190 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

About Accenture

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.