Commerce Bank Has $17.24 Million Stock Holdings in Accenture plc (NYSE:ACN)

Commerce Bank boosted its holdings in Accenture plc (NYSE:ACN) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,016 shares of the information technology services provider’s stock after purchasing an additional 1,100 shares during the period. Commerce Bank’s holdings in Accenture were worth $17,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Accenture during the third quarter worth about $25,000. FPC Investment Advisory Inc. grew its holdings in shares of Accenture by 62.2% during the 4th 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 in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture during the fourth quarter valued at approximately $30,000. POM Investment Strategies LLC lifted its position in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Accenture during the fourth quarter worth $34,000. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Beatty sold 169 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at $1,512,111.60. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,778 shares of company stock valued at $8,408,087. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Down 1.0 %

NYSE ACN opened at $282.28 on Friday. The company has a market capitalization of $176.80 billion, a PE ratio of 23.68, a P/E/G ratio of 3.23 and a beta of 1.32. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The stock has a 50-day simple moving average of $326.22 and a 200 day simple moving average of $349.73. 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 announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.01. The company had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 EPS. Research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.10%. Accenture’s dividend payout ratio is presently 48.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACN. Barclays decreased their target price on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Guggenheim lowered their price objective on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Mizuho decreased their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Morgan Stanley dropped their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Finally, Piper Sandler lowered their target price on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $377.82.

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.