Pinnacle Financial Partners Inc Boosts Holdings in Accenture plc (NYSE:ACN)

Pinnacle Financial Partners Inc boosted its position in shares of Accenture plc (NYSE:ACN) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,891 shares of the information technology services provider’s stock after acquiring an additional 453 shares during the period. Pinnacle Financial Partners Inc’s holdings in Accenture were worth $2,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in 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 valued at $9,685,648,000 after acquiring an additional 471,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Accenture by 378.9% during the third 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 acquiring an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Accenture by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after buying an additional 56,937 shares during the last quarter. Swedbank AB raised its holdings in shares of 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 buying an additional 1,212,011 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Accenture by 1.5% in the third quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock worth $668,974,000 after buying an additional 28,491 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of research analyst reports. BMO Capital Markets raised their price target on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Morgan Stanley raised their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group decreased their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now owns 5,149 shares in the company, valued at $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 available through this link. Also, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This trade represents a 7.32 % 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 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Down 5.3 %

ACN stock opened at $364.35 on Friday. The firm has a market cap of $228.00 billion, a PE ratio of 30.57, a P/E/G ratio of 3.41 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. The firm’s fifty day moving average is $367.48 and its 200 day moving average is $356.38. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (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 business 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. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

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.