UMB Bank n.a. Sells 2,222 Shares of Accenture PLC $ACN

Key Points

• UMB Bank n.a. reduced its stake in Accenture PLC by 3.0% in Q2, selling 2,222 shares, and its holdings are valued at approximately $21.4 million.
• Accenture reported $3.49 EPS for the last quarter, exceeding the consensus estimate by $0.17, with revenues of $17.73 billion, surpassing expectations of $17.26 billion.
• Insider trading activity includes CEO Julie Spellman Sweet and CEO Mauro Macchi selling portions of their shares, resulting in decreases of 21.73% and 17.97% in their respective holdings.

UMB Bank n.a. trimmed its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,740 shares of the information technology services provider's stock after selling 2,222 shares during the period. UMB Bank n.a.'s holdings in Accenture were worth $21,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of Accenture during the fourth quarter worth approximately $31,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Accenture during the first quarter worth approximately $31,000. Inlight Wealth Management LLC bought a new stake in Accenture in the first quarter valued at approximately $32,000. Capital A Wealth Management LLC bought a new stake in Accenture in the fourth quarter valued at approximately $34,000. Finally, WPG Advisers LLC bought a new stake in Accenture in the first quarter valued at approximately $42,000. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

Shares of ACN opened at $240.65 on Friday. Accenture PLC has a 12 month low of $234.18 and a 12 month high of $398.35. The firm has a fifty day simple moving average of $257.73 and a 200 day simple moving average of $289.79. The stock has a market capitalization of $150.73 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.07 and a beta of 1.29. 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 - Get Free Report) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.13 earnings per share. Research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HSBC assumed coverage on shares of Accenture in a research note on Monday, July 28th. They issued a "reduce" rating and a $240.00 target price for the company. Rothschild Redb downgraded shares of Accenture from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Accenture from $290.00 to $260.00 and set a "hold" rating for the company in a research note on Thursday, September 11th. JPMorgan Chase & Co. lowered their target price on shares of Accenture from $334.00 to $302.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Benchmark reiterated a "mixed" rating on shares of Accenture in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $335.39.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares in the company, valued at $2,290,387.05. This trade represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $141,170.00. Following the completion of the sale, the chief executive officer owned 2,283 shares of the company's stock, valued at approximately $644,582.22. This represents a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,954 shares of company stock worth $834,280 over the last quarter. 0.02% of the stock is currently owned by insiders.

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.

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