Accenture plc (NYSE:ACN) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lowered its position in shares of Accenture plc (NYSE:ACN) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,496 shares of the information technology services provider’s stock after selling 32,209 shares during the period. 1832 Asset Management L.P.’s holdings in Accenture were worth $98,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreCap Advisors LLC acquired a new stake in Accenture in the 4th quarter valued at approximately $427,000. Pacer Advisors Inc. grew its stake in shares of Accenture by 3.4% in the fourth quarter. Pacer Advisors Inc. now owns 43,099 shares of the information technology services provider’s stock worth $15,124,000 after acquiring an additional 1,429 shares in the last quarter. PFG Investments LLC grew its stake in shares of Accenture by 11.9% in the fourth quarter. PFG Investments LLC now owns 3,516 shares of the information technology services provider’s stock worth $1,234,000 after acquiring an additional 373 shares in the last quarter. IFG Advisory LLC grew its stake in shares of Accenture by 2.8% in the fourth quarter. IFG Advisory LLC now owns 10,320 shares of the information technology services provider’s stock worth $3,621,000 after acquiring an additional 278 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Accenture in the fourth quarter worth $116,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $315.00, for a total transaction of $472,500.00. Following the transaction, the chief financial officer now owns 38,570 shares in the company, valued at $12,149,550. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock worth $6,912,635 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ACN shares. Piper Sandler dropped their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Barclays dropped their price target on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Susquehanna dropped their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Robert W. Baird decreased their price objective on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Finally, Piper Sandler Companies decreased their price objective 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. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $351.82.

Accenture Stock Performance

NYSE ACN traded down $1.66 during trading on Friday, reaching $328.46. The company’s stock had a trading volume of 2,438,247 shares, compared to its average volume of 3,598,002. The firm has a market cap of $205.84 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 3.68 and a beta of 1.23. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The business’s fifty day moving average price is $303.10 and its 200-day moving average price is $331.77.

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

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 1.57%. Accenture’s dividend payout ratio is presently 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.