Moody National Bank Trust Division Trims Position in Accenture plc (NYSE:ACN)

Moody National Bank Trust Division trimmed its holdings in Accenture plc (NYSE:ACNGet Rating) by 15.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,390 shares of the information technology services provider’s stock after selling 1,009 shares during the period. Moody National Bank Trust Division’s holdings in Accenture were worth $1,818,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Accenture in the fourth quarter valued at about $31,000. Citizens National Bank Trust Department purchased a new stake in shares of Accenture in the fourth quarter valued at about $31,000. Ten Capital Wealth Advisors LLC raised its holdings in shares of Accenture by 111.1% in the fourth quarter. Ten Capital Wealth Advisors LLC now owns 76 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 40 shares during the last quarter. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Accenture in the fourth quarter valued at about $37,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Accenture in the fourth quarter valued at about $39,000. 74.46% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Julie Spellman Sweet sold 3,287 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $315.22, for a total transaction of $1,036,128.14. Following the sale, the chief executive officer now owns 19,836 shares in the company, valued at $6,252,703.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 470 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $315.06, for a total transaction of $148,078.20. Following the sale, the general counsel now owns 26,427 shares in the company, valued at approximately $8,326,090.62. The disclosure for this sale can be found here. Insiders sold 10,757 shares of company stock worth $3,386,681 over the last quarter. Company insiders own 0.07% of the company’s stock.

Several research firms recently issued reports on ACN. Piper Sandler cut their price target on shares of Accenture from $433.00 to $368.00 and set a “neutral” rating for the company in a report on Friday, March 18th. Bank of America cut their price target on shares of Accenture from $443.00 to $374.00 and set a “buy” rating for the company in a report on Friday, June 17th. Stifel Nicolaus cut their price target on shares of Accenture from $440.00 to $368.00 in a report on Thursday, March 17th. Robert W. Baird cut their price target on shares of Accenture from $378.00 to $340.00 and set a “neutral” rating for the company in a report on Tuesday, June 14th. Finally, Cowen cut their price target on shares of Accenture from $375.00 to $330.00 in a report on Wednesday, June 15th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $375.85.

ACN stock opened at $286.40 on Thursday. The company’s 50 day simple moving average is $295.63 and its 200-day simple moving average is $330.28. The firm has a market capitalization of $181.55 billion, a PE ratio of 28.87, a P/E/G ratio of 2.62 and a beta of 1.24. Accenture plc has a 12 month low of $268.17 and a 12 month high of $417.37.

Accenture Profile (Get Rating)

Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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