Bank of Marin Buys 238 Shares of Accenture plc (NYSE:ACN)

Bank of Marin increased its stake in shares of Accenture plc (NYSE:ACN) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,080 shares of the information technology services provider’s stock after purchasing an additional 238 shares during the quarter. Bank of Marin’s holdings in Accenture were worth $1,084,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ACN. State Street Corp boosted its stake in Accenture by 1.8% in 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 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 worth $1,941,219,000 after acquiring an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 period. Amundi grew its holdings in Accenture by 27.9% during the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after acquiring an additional 826,038 shares during the period. Finally, Swedbank AB grew its holdings in Accenture by 47.5% during the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. This represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % 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. 0.02% of the stock is currently owned by insiders.

Accenture Price Performance

NYSE ACN opened at $324.21 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $202.89 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The business’s fifty day moving average price is $361.86 and its 200-day moving average price is $358.02.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACN. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Wolfe Research raised shares of 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. Stifel Nicolaus cut their price target 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. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a research note on Monday. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $385.65.

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.