9258 Wealth Management LLC Sells 468 Shares of Accenture plc (NYSE:ACN)

9258 Wealth Management LLC cut its position in shares of Accenture plc (NYSE:ACN) by 35.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 837 shares of the information technology services provider’s stock after selling 468 shares during the quarter. 9258 Wealth Management LLC’s holdings in Accenture were worth $254,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Annapolis Financial Services LLC lifted its holdings in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture during the fourth quarter valued at about $29,000. Atwood & Palmer Inc. grew its stake in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Accenture in the second quarter worth about $26,000. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of Accenture in the 4th quarter valued at about $35,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

NYSE:ACN opened at $340.99 on Friday. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The company’s 50-day simple moving average is $322.91 and its 200 day simple moving average is $324.78. The firm has a market capitalization of $213.70 billion, a P/E ratio of 31.23, a PEG ratio of 3.81 and a beta of 1.24.

Accenture (NYSE:ACN) last released its 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). The company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 earnings per share. On average, equities research analysts expect that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s payout ratio is currently 47.25%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACN. BMO Capital Markets decreased their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft cut shares of Accenture from a “buy” rating to a “hold” rating and dropped their price target for the company from $409.00 to $295.00 in a research report on Wednesday, May 15th. Barclays decreased their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. The Goldman Sachs Group initiated coverage on shares of Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 target price for the company. Finally, Robert W. Baird lowered their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.33.

Insider Activity

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. 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.

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.