Graypoint LLC Sells 742 Shares of Accenture plc (NYSE:ACN)

Graypoint LLC lessened its position in shares of Accenture plc (NYSE:ACN) by 7.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,079 shares of the information technology services provider’s stock after selling 742 shares during the period. Graypoint LLC’s holdings in Accenture were worth $2,755,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its stake in shares of Accenture by 8.2% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock valued at $125,000 after buying an additional 27 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its position in shares of Accenture by 2.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after purchasing an additional 28 shares in the last quarter. IronBridge Private Wealth LLC lifted its holdings in Accenture by 2.3% during the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock worth $433,000 after purchasing an additional 28 shares in the last quarter. Kolinsky Wealth Management LLC boosted its stake in Accenture by 1.0% in the 4th quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock worth $1,013,000 after purchasing an additional 30 shares during the period. Finally, Walled Lake Planning & Wealth Management LLC grew its holdings in Accenture by 0.3% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock valued at $4,120,000 after buying an additional 32 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a filing with the SEC, which is available through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 8,145 shares of the company’s 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 transaction, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock valued at $6,912,635 over the last ninety days. 0.07% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACN shares. Wedbush reduced their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Bank of America reduced their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Stifel Nicolaus dropped their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Friday, July 19th. Finally, Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a research report on Friday, May 24th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $352.33.

Accenture Stock Performance

ACN stock traded up $1.74 during trading on Friday, hitting $341.95. 2,004,144 shares of the company traded hands, compared to its average volume of 2,810,327. The company has a 50-day moving average of $319.98 and a 200-day moving average of $325.52. The firm has a market capitalization of $214.30 billion, a PE ratio of 31.31, a P/E/G ratio of 3.66 and a beta of 1.23. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the prior year, the business posted $3.19 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company 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. This represents a $5.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is 47.25%.

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.