Accenture plc (NYSE:ACN) Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. trimmed its position in Accenture plc (NYSE:ACN) by 39.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 641 shares of the information technology services provider’s stock after selling 412 shares during the period. Elite Wealth Management Inc.’s holdings in Accenture were worth $225,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its position in shares of Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 45 shares during the last quarter. Halpern Financial Inc. acquired a new stake in Accenture during the 4th quarter valued at $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in Accenture during the 1st quarter valued at $28,000. BluePath Capital Management LLC acquired a new stake in Accenture during the 3rd quarter valued at $31,000. Finally, RVW Wealth LLC acquired a new stake in Accenture during the 3rd quarter valued at $33,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Accenture

In other news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Accenture news, CFO Kathleen R. Mcclure sold 851 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $371.77, for a total value of $316,376.27. Following the transaction, the chief financial officer now directly owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,000 shares of company stock valued at $11,146,998. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ACN shares. Bank of America boosted their target price on shares of Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. UBS Group boosted their target price on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Piper Sandler upped their price target on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Royal Bank of Canada upped their price target on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, TD Cowen dropped their price target on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Accenture Price Performance

Shares of NYSE ACN traded up $0.67 during mid-day trading on Wednesday, hitting $313.94. The company had a trading volume of 2,900,382 shares, compared to its average volume of 3,239,222. The business’s 50-day simple moving average is $358.39 and its 200-day simple moving average is $342.14. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51. The firm has a market cap of $210.57 billion, a P/E ratio of 28.46, a PEG ratio of 2.97 and a beta of 1.19.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.69 earnings per share. As a group, sell-side analysts predict that Accenture plc will post 12.09 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio is 46.78%.

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.