HBK Sorce Advisory LLC Has $9.02 Million Stock Position in Accenture plc (NYSE:ACN)

HBK Sorce Advisory LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,732 shares of the information technology services provider’s stock after purchasing an additional 697 shares during the period. HBK Sorce Advisory LLC’s holdings in Accenture were worth $9,021,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. TrinityPoint Wealth LLC raised its holdings in Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after buying an additional 125 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in Accenture during the fourth quarter valued at about $4,594,000. New Mexico Educational Retirement Board raised its holdings in Accenture by 11.9% during the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after buying an additional 3,900 shares in the last quarter. Platform Technology Partners raised its holdings in Accenture by 7.0% during the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock valued at $733,000 after buying an additional 131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Accenture by 13.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock valued at $63,584,000 after buying an additional 21,516 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Susquehanna cut 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. Barclays dropped their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. BMO Capital Markets dropped their price objective 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. Mizuho dropped their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Finally, Piper Sandler Companies dropped their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Eleven equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.68.

Accenture Trading Down 0.1 %

NYSE ACN opened at $349.90 on Friday. The stock’s 50 day moving average is $327.07 and its two-hundred day moving average is $324.00. The company has a market capitalization of $219.28 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 3.60 and a beta of 1.24. 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 data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. On average, analysts predict that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.47%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Buying and Selling

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, 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 worth $6,912,635 in the last three months. Insiders own 0.07% of the company’s stock.

Accenture 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.