Capital Advisors Ltd. LLC Grows Stock Position in Accenture plc (NYSE:ACN)

Capital Advisors Ltd. LLC grew its stake in shares of Accenture plc (NYSE:ACN) by 7.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,112 shares of the information technology services provider’s stock after purchasing an additional 78 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Accenture were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Compass Capital Management Inc. raised its position in Accenture by 14.5% during the second quarter. Compass Capital Management Inc. now owns 192,541 shares of the information technology services provider’s stock valued at $58,419,000 after acquiring an additional 24,322 shares in the last quarter. Independence Bank of Kentucky increased its holdings in Accenture by 18.8% in the second quarter. Independence Bank of Kentucky now owns 7,192 shares of the information technology services provider’s stock valued at $2,182,000 after buying an additional 1,137 shares in the last quarter. Community Financial Services Group LLC raised its position in shares of Accenture by 4.9% in the second quarter. Community Financial Services Group LLC now owns 5,047 shares of the information technology services provider’s stock worth $1,531,000 after acquiring an additional 236 shares during the period. Field & Main Bank grew its position in shares of Accenture by 3.9% during the 2nd quarter. Field & Main Bank now owns 5,062 shares of the information technology services provider’s stock valued at $1,536,000 after acquiring an additional 188 shares during the period. Finally, Institute for Wealth Management LLC. increased its stake in shares of Accenture by 8.4% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,201 shares of the information technology services provider’s stock valued at $668,000 after purchasing an additional 170 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wedbush dropped their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Mizuho lowered their price target on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a report on Friday, July 19th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Finally, BMO Capital Markets reduced their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $352.33.

Insider Buying and Selling at Accenture

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated 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 completion of the sale, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by insiders.

Accenture Trading Up 0.8 %

Shares of NYSE:ACN traded up $2.70 during trading on Friday, hitting $333.27. 1,518,702 shares of the stock were exchanged, compared to its average volume of 2,841,372. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market cap of $208.86 billion, a PE ratio of 30.52, a P/E/G ratio of 3.66 and a beta of 1.23. The company has a fifty day moving average price of $315.47 and a two-hundred day moving average price of $325.95.

Accenture (NYSE:ACN) last posted its 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). The firm had revenue of $16.47 billion during 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% on a year-over-year basis. During the same period last year, the company posted $3.19 EPS. Equities research analysts anticipate that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.55%. Accenture’s dividend payout ratio (DPR) is 47.25%.

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.