Raub Brock Capital Management LP Sells 4,028 Shares of Accenture plc (NYSE:ACN)

Raub Brock Capital Management LP cut its stake in shares of Accenture plc (NYSE:ACN) by 7.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 52,422 shares of the information technology services provider’s stock after selling 4,028 shares during the quarter. Accenture accounts for about 3.8% of Raub Brock Capital Management LP’s portfolio, making the stock its 14th largest position. Raub Brock Capital Management LP’s holdings in Accenture were worth $18,170,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Chilton Capital Management LLC raised its holdings in Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Accenture during the fourth quarter worth $27,000. Annapolis Financial Services LLC lifted its stake in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the fourth quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. grew its position in shares of Accenture by 214.8% during the 1st 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 period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ACN. Mizuho cut their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Redburn Atlantic increased their price objective on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. BMO Capital Markets dropped their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, June 21st. The Goldman Sachs Group started coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective for the company. Finally, Citigroup lowered their target price on Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $352.74.

Accenture Stock Down 0.2 %

ACN traded down $0.65 during trading on Tuesday, hitting $301.90. 325,054 shares of the company traded hands, compared to its average volume of 2,894,196. The firm has a market cap of $189.20 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The stock’s fifty day moving average is $300.17 and its 200 day moving average is $336.05.

Accenture (NYSE:ACN) last issued its quarterly 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 company had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter in the previous year, the business earned $3.19 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Insider Buying and Selling at Accenture

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated 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 transaction, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the transaction, the chief executive officer now directly owns 161,581 shares in the company, valued at $51,045,053.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders have sold a total of 20,083 shares of company stock valued at $6,302,285 over the last three months. 0.07% of the stock is currently owned by insiders.

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.