MV Capital Management Inc. Sells 1,187 Shares of Accenture plc (NYSE:ACN)

MV Capital Management Inc. decreased its stake in shares of Accenture plc (NYSE:ACN) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,656 shares of the information technology services provider’s stock after selling 1,187 shares during the period. MV Capital Management Inc.’s holdings in Accenture were worth $3,693,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ACN. Dash Acquisitions Inc. boosted its holdings in Accenture by 4.8% during the first quarter. Dash Acquisitions Inc. now owns 36,564 shares of the information technology services provider’s stock worth $12,673,000 after purchasing an additional 1,663 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Accenture by 4.0% during the first quarter. Capital Advisors Ltd. LLC now owns 1,034 shares of the information technology services provider’s stock worth $358,000 after purchasing an additional 40 shares during the last quarter. Woodmont Investment Counsel LLC boosted its holdings in Accenture by 10.5% during the first quarter. Woodmont Investment Counsel LLC now owns 5,176 shares of the information technology services provider’s stock worth $1,794,000 after purchasing an additional 490 shares during the last quarter. Iams Wealth Management LLC boosted its holdings in Accenture by 35.3% during the first quarter. Iams Wealth Management LLC now owns 4,305 shares of the information technology services provider’s stock worth $1,627,000 after purchasing an additional 1,123 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC lifted its stake in Accenture by 7.1% in the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 600 shares of the information technology services provider’s stock valued at $208,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of ACN traded up $1.28 during midday trading on Tuesday, hitting $303.83. 2,007,419 shares of the company traded hands, compared to its average volume of 2,907,548. The stock has a 50-day moving average of $299.86 and a 200-day moving average of $335.76. The firm has a market cap of $190.41 billion, a P/E ratio of 27.68, a PEG ratio of 3.38 and a beta of 1.23. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last issued 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). The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 earnings per share. Sell-side analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

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

Insider Activity

In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the transaction, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction dated 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 transaction, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The disclosure for this sale can be found here. Insiders sold 20,083 shares of company stock worth $6,302,285 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on ACN shares. TD Cowen cut their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Royal Bank of Canada raised their price target on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Redburn Atlantic raised their price target on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Wedbush decreased their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Finally, Susquehanna decreased their target price on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $352.74.

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.