Accenture plc (NYSE:ACN) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC reduced its position in Accenture plc (NYSE:ACN) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,391 shares of the information technology services provider’s stock after selling 149 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Accenture were worth $2,243,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ACN. Ameriprise Financial Inc. lifted its holdings in shares of Accenture by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after acquiring an additional 96,414 shares during the period. Redwood Investments LLC boosted its holdings in shares of Accenture by 8.3% in the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after purchasing an additional 1,542 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Accenture by 284.7% during the 4th quarter. Chicago Capital LLC now owns 12,677 shares of the information technology services provider’s stock valued at $4,449,000 after buying an additional 9,382 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Accenture by 33,484.1% during the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock worth $199,167,000 after buying an additional 565,882 shares during the last quarter. Finally, VELA Investment Management LLC boosted its holdings in Accenture by 4.3% in the third quarter. VELA Investment Management LLC now owns 3,681 shares of the information technology services provider’s stock valued at $1,130,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 2.7 %

ACN stock traded down $8.33 during trading on Thursday, hitting $303.66. 1,792,390 shares of the company’s stock traded hands, compared to its average volume of 2,490,513. Accenture plc has a 52 week low of $264.42 and a 52 week high of $387.51. The stock has a fifty day moving average price of $340.17 and a two-hundred day moving average price of $342.35. The stock has a market capitalization of $203.68 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 2.88 and a beta of 1.21.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. During the same period in the prior year, the company earned $2.69 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be issued a dividend of $1.29 per share. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.70%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Analysts Set New Price Targets

A number of research firms have recently commented on ACN. Mizuho restated a “buy” rating and issued a $398.00 price objective (down from $426.00) on shares of Accenture in a report on Friday, March 22nd. BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Wednesday, January 17th. Morgan Stanley lifted their target price on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Bank of America raised their price objective on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Piper Sandler upped their target price on Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.00.

Insider Transactions at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,083 shares of company stock valued at $8,959,325. 0.07% of the stock is currently owned by corporate insiders.

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.