Accenture plc (NYSE:ACN) Stock Position Decreased by SteelPeak Wealth LLC

SteelPeak Wealth LLC decreased its position in Accenture plc (NYSE:ACN) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 928 shares of the information technology services provider’s stock after selling 324 shares during the quarter. SteelPeak Wealth LLC’s holdings in Accenture were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First American Trust FSB bought a new stake in shares of Accenture during the 4th quarter worth about $491,000. Prosperitas Financial LLC grew its holdings in Accenture by 12.7% during the fourth quarter. Prosperitas Financial LLC now owns 5,359 shares of the information technology services provider’s stock valued at $1,881,000 after purchasing an additional 606 shares during the last quarter. DGS Capital Management LLC raised its position in shares of Accenture by 5.3% in the fourth quarter. DGS Capital Management LLC now owns 2,473 shares of the information technology services provider’s stock valued at $868,000 after purchasing an additional 125 shares during the period. Suncoast Equity Management lifted its stake in shares of Accenture by 1.3% in the fourth quarter. Suncoast Equity Management now owns 127,048 shares of the information technology services provider’s stock worth $44,582,000 after buying an additional 1,670 shares during the last quarter. Finally, Marietta Wealth Management LLC boosted its holdings in shares of Accenture by 0.5% during the 4th quarter. Marietta Wealth Management LLC now owns 19,085 shares of the information technology services provider’s stock worth $6,697,000 after buying an additional 89 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the business’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 directly owns 38,570 shares of the company’s stock, valued at $12,149,550. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $12,149,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares in the company, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 in the last 90 days. 0.07% of the stock is currently owned by insiders.

Accenture Stock Up 0.7 %

NYSE:ACN traded up $2.22 on Friday, reaching $327.35. The stock had a trading volume of 185,792 shares, compared to its average volume of 2,867,832. The company has a market capitalization of $205.15 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. The stock has a fifty day moving average price of $310.35 and a 200-day moving average price of $328.16. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter last year, the company earned $3.19 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Sell-side analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.58%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ACN shares. Jefferies Financial Group cut their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $382.00 to $300.00 in a research report on Wednesday, June 26th. Susquehanna lowered their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Robert W. Baird cut their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Finally, Wedbush dropped their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.82.

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.