OLD Point Trust & Financial Services N A Has $8.19 Million Stock Holdings in Accenture plc (NYSE:ACN)

OLD Point Trust & Financial Services N A decreased its position in Accenture plc (NYSE:ACN) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,273 shares of the information technology services provider’s stock after selling 973 shares during the quarter. Accenture comprises approximately 2.9% of OLD Point Trust & Financial Services N A’s holdings, making the stock its 8th largest position. OLD Point Trust & Financial Services N A’s holdings in Accenture were worth $8,187,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc bought a new position in shares of Accenture in the third quarter valued at $25,000. FPC Investment Advisory Inc. raised its position 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 period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $30,000. POM Investment Strategies LLC boosted its position in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Accenture during the 4th quarter worth about $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Morgan Stanley cut their target price on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Monday. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Piper Sandler dropped their price target on Accenture from $429.00 to $396.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Finally, BMO Capital Markets decreased their price objective on Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $384.45.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % 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 worth $8,316,190 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.1 %

ACN stock opened at $324.52 on Thursday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a market capitalization of $203.08 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company’s 50-day simple moving average is $361.19 and its 200 day simple moving average is $357.78. 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 (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The company 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% on a year-over-year basis. During the same period last year, the firm earned $3.27 earnings per share. As a group, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Company 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.