Mather Group LLC. Sells 2,078 Shares of Accenture plc (NYSE:ACN)

Mather Group LLC. lowered its stake in Accenture plc (NYSE:ACN) by 17.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,953 shares of the information technology services provider’s stock after selling 2,078 shares during the quarter. Mather Group LLC.’s holdings in Accenture were worth $3,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Insight Wealth Strategies LLC raised its stake in shares of Accenture by 38.3% in the second quarter. Insight Wealth Strategies LLC now owns 7,639 shares of the information technology services provider’s stock worth $2,318,000 after purchasing an additional 2,115 shares during the last quarter. Bank & Trust Co bought a new position in Accenture during the 2nd quarter valued at $120,000. ST Germain D J Co. Inc. boosted its holdings in Accenture by 2.4% during the 2nd quarter. ST Germain D J Co. Inc. now owns 2,829 shares of the information technology services provider’s stock worth $858,000 after acquiring an additional 66 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of Accenture in the 2nd quarter worth $91,000. Finally, Moody National Bank Trust Division lifted its position in shares of Accenture by 1.3% during the second quarter. Moody National Bank Trust Division now owns 6,399 shares of the information technology services provider’s stock valued at $1,942,000 after purchasing an additional 83 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACN shares. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Friday, July 19th. Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a report on Friday, May 24th. Piper Sandler reduced their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Finally, Bank of America decreased their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $351.82.

Accenture Price Performance

ACN stock traded up $5.10 during mid-day trading on Tuesday, reaching $318.84. 2,284,242 shares of the company traded hands, compared to its average volume of 2,922,226. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The company has a market capitalization of $199.81 billion, a P/E ratio of 29.20, a P/E/G ratio of 3.66 and a beta of 1.23. The company has a fifty day moving average price of $305.63 and a 200-day moving average price of $330.43.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 prior year, the firm posted $3.19 EPS. Accenture’s revenue was down .6% on a year-over-year basis. As a group, analysts forecast that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of the 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 transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock worth $6,912,635 in the last ninety days. 0.07% of the stock is currently owned by insiders.

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.