Accenture plc (NYSE:ACN) Shares Sold by Sabal Trust CO

Sabal Trust CO reduced its stake in Accenture plc (NYSE:ACN) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,699 shares of the information technology services provider’s stock after selling 1,276 shares during the quarter. Accenture comprises approximately 1.6% of Sabal Trust CO’s portfolio, making the stock its 23rd biggest holding. Sabal Trust CO’s holdings in Accenture were worth $28,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ACN. Morse Asset Management Inc purchased a new position in shares of Accenture during the third quarter valued at approximately $25,000. FPC Investment Advisory Inc. boosted its holdings in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture in the third quarter valued at $30,000. POM Investment Strategies LLC lifted its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in Accenture in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares in the company, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were 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 approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. UBS Group lifted their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets increased their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley boosted their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Performance

ACN stock opened at $363.22 on Wednesday. The stock’s fifty day moving average is $367.73 and its two-hundred day moving average is $357.32. The stock has a market capitalization of $227.30 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 3.23 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 1 year low of $278.69 and a 1 year high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the business earned $3.27 earnings per share. Accenture’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts predict that Accenture plc will post 12.73 EPS for the current year.

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.