Proficio Capital Partners LLC Raises Stock Holdings in Accenture plc (NYSE:ACN)

Proficio Capital Partners LLC boosted its holdings in shares of Accenture plc (NYSE:ACN) by 12.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,418 shares of the information technology services provider’s stock after purchasing an additional 263 shares during the quarter. Proficio Capital Partners LLC’s holdings in Accenture were worth $838,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ACN. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Accenture by 7.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after buying an additional 2,008 shares during the period. TrinityPoint Wealth LLC raised its stake in Accenture by 3.6% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after purchasing an additional 125 shares during the period. Buckingham Capital Management Inc. lifted its holdings in shares of Accenture by 3.4% in the fourth quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock valued at $9,671,000 after purchasing an additional 900 shares in the last quarter. Redwood Investments LLC boosted its position in shares of Accenture by 8.3% in the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after buying an additional 1,542 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of Accenture during the fourth quarter valued at $4,594,000. 75.14% of the stock is owned by institutional investors and hedge funds.

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 in the company, valued at $4,208,606.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,083 shares of company stock valued at $6,302,285. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ACN. TD Cowen lowered their target price on Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Bank of America lowered their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Piper Sandler cut their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. The Goldman Sachs Group assumed coverage on shares of Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 price target on the stock. Finally, Wedbush cut their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $351.82.

Accenture Stock Down 0.3 %

Accenture stock traded down $1.00 during mid-day trading on Tuesday, reaching $298.47. The company had a trading volume of 2,479,223 shares, compared to its average volume of 2,895,906. The company has a 50 day moving average of $299.08 and a 200-day moving average of $333.95. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The firm has a market cap of $187.05 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 3.34 and a beta of 1.23.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.55 billion. During the same period last year, the business earned $3.19 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.73%. Accenture’s dividend payout ratio is currently 47.25%.

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.