Perkins Coie Trust Co Sells 528 Shares of Accenture PLC $ACN

Perkins Coie Trust Co cut its holdings in shares of Accenture PLC (NYSE:ACN) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,789 shares of the information technology services provider’s stock after selling 528 shares during the period. Perkins Coie Trust Co’s holdings in Accenture were worth $2,627,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACN. Park Square Financial Group LLC bought a new position in shares of Accenture in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC bought a new stake in Accenture during the 4th quarter worth about $34,000. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Accenture in the first quarter worth about $31,000. Inlight Wealth Management LLC acquired a new position in shares of Accenture during the first quarter worth approximately $32,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Accenture during the fourth quarter valued at approximately $47,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 9th. Robert W. Baird lowered their target price on Accenture from $372.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday. Benchmark reaffirmed a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. UBS Group reiterated a “buy” rating and issued a $395.00 price objective (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Finally, Guggenheim cut their target price on shares of Accenture from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $335.13.

Accenture Trading Down 0.7%

NYSE:ACN opened at $239.59 on Friday. The firm has a market capitalization of $150.06 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.08 and a beta of 1.29. Accenture PLC has a 1-year low of $235.83 and a 1-year high of $398.35. The business’s 50-day moving average price is $258.54 and its two-hundred day moving average price is $290.52. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%.The company had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the prior year, the business posted $3.13 EPS. Accenture’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Insiders Place Their Bets

In other Accenture news, CEO Mauro Macchi sold 500 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the sale, the chief executive officer directly owned 2,283 shares in the company, valued at approximately $644,582.22. This trade represents a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the transaction, the chief executive officer directly owned 8,109 shares of the company’s stock, valued at $2,290,387.05. This trade represents a 21.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,954 shares of company stock worth $834,280. Company insiders own 0.02% of the company’s stock.

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.