Park Place Capital Corp Has $983,000 Stock Holdings in Accenture plc (NYSE:ACN)

Park Place Capital Corp lowered its holdings in Accenture plc (NYSE:ACN) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,241 shares of the information technology services provider’s stock after selling 189 shares during the quarter. Park Place Capital Corp’s holdings in Accenture were worth $983,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at $27,000. Annapolis Financial Services LLC grew its stake in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Accenture in the fourth quarter valued at approximately $29,000. Atwood & Palmer Inc. boosted its holdings in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. bought a new stake in Accenture during the 4th quarter worth approximately $35,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock valued at $6,912,635 over the last three months. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 target price on the stock. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $382.00 to $300.00 in a research note on Wednesday, June 26th. Stifel Nicolaus lowered their price target on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Mizuho reduced their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Piper Sandler lowered their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $351.82.

Accenture Stock Down 1.5 %

Accenture stock traded down $4.93 during mid-day trading on Friday, hitting $323.15. 2,682,736 shares of the company’s stock were exchanged, compared to its average volume of 3,095,611. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The firm has a market capitalization of $202.52 billion, a P/E ratio of 29.59, a PEG ratio of 3.66 and a beta of 1.23. The company’s 50 day simple moving average is $305.37 and its 200-day simple moving average is $330.75.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. Accenture’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio is 47.25%.

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.