Moisand Fitzgerald Tamayo LLC Decreases Holdings in Accenture plc (NYSE:ACN)

Moisand Fitzgerald Tamayo LLC decreased its position in Accenture plc (NYSE:ACN) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 975 shares of the information technology services provider’s stock after selling 90 shares during the period. Moisand Fitzgerald Tamayo LLC’s holdings in Accenture were worth $338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ACN. McKinley Carter Wealth Services Inc. raised its stake in Accenture by 7.4% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after acquiring an additional 2,008 shares during the period. TrinityPoint Wealth LLC boosted its holdings in Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 125 shares during the period. Buckingham Capital Management Inc. raised its holdings in Accenture by 3.4% during the 4th quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock valued at $9,671,000 after acquiring an additional 900 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Accenture by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after acquiring an additional 96,414 shares in the last quarter. Finally, Redwood Investments LLC grew its position in shares of Accenture by 8.3% in the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after purchasing an additional 1,542 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 4,333 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now owns 30,702 shares of the company’s stock, valued at approximately $9,705,516.24. The disclosure for this sale can be found here. Insiders sold 20,083 shares of company stock valued at $6,302,285 in the last 90 days. Insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ACN shares. Deutsche Bank Aktiengesellschaft downgraded Accenture from a “buy” rating to a “hold” rating and cut their target price for the stock from $409.00 to $295.00 in a research note on Wednesday, May 15th. Citigroup decreased their target price on shares of Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Robert W. Baird cut their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Mizuho decreased their price target on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Royal Bank of Canada lifted their price objective on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $352.74.

Accenture Price Performance

Accenture stock traded up $0.22 during trading hours on Friday, reaching $303.41. The company had a trading volume of 14,905,693 shares, compared to its average volume of 4,036,297. The firm has a market cap of $203.51 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 3.38 and a beta of 1.21. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a 50-day moving average price of $300.17 and a 200 day moving average price of $336.15.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share 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 firm had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. During the same period in the previous year, the company earned $3.19 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be issued a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.70%. Accenture’s dividend payout ratio is presently 47.25%.

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.