Sandy Spring Bank Sells 753 Shares of Accenture plc (NYSE:ACN)

Sandy Spring Bank decreased its holdings in shares of Accenture plc (NYSE:ACN) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 42,878 shares of the information technology services provider’s stock after selling 753 shares during the quarter. Sandy Spring Bank’s holdings in Accenture were worth $15,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morse Asset Management Inc acquired a new stake in shares of Accenture during the third quarter worth approximately $25,000. FPC Investment Advisory Inc. increased 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 buying an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the fourth quarter worth approximately $30,000. POM Investment Strategies LLC increased its holdings in shares of 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 in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture during the fourth quarter worth approximately $34,000. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.1 %

ACN opened at $324.52 on Thursday. The stock has a market capitalization of $203.08 billion, a P/E ratio of 27.22, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The firm’s fifty day simple moving average is $361.19 and its 200 day simple moving average is $357.78. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its quarterly 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. The firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 EPS. As a group, research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on ACN shares. Mizuho dropped their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley lowered their price target on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Finally, UBS Group raised 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. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $384.45.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 375 shares of the business’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 completion of the sale, the insider now directly 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 worth $8,316,190 in the last ninety days. 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.