Oppenheimer Asset Management Inc. Has $41.96 Million Stake in Accenture plc (NYSE:ACN)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Accenture plc (NYSE:ACN) by 8.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 138,288 shares of the information technology services provider’s stock after purchasing an additional 11,123 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Accenture were worth $41,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACN. Unique Wealth Strategies LLC acquired a new position in Accenture during the 2nd quarter worth $26,000. Annapolis Financial Services LLC boosted its holdings in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Accenture in the second quarter worth about $28,000. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture during the 4th quarter valued at about $29,000. Finally, Atwood & Palmer Inc. raised its stake in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s 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 completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owns 8,989 shares in the company, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,421 shares of company stock worth $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Shares of Accenture stock opened at $349.58 on Friday. The firm has a market cap of $219.08 billion, a PE ratio of 32.01, a P/E/G ratio of 3.82 and a beta of 1.24. The business’s 50 day simple moving average is $328.08 and its 200 day simple moving average is $323.80. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same quarter last year, the business earned $3.19 earnings per share. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts predict that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ACN shares. Jefferies Financial Group reduced their price objective on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Mizuho reduced their price target on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Friday, July 19th. TD Cowen raised their target price on Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $354.68.

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.