Aries Wealth Management Sells 146 Shares of Accenture plc (NYSE:ACN)

Aries Wealth Management lessened its stake in shares of Accenture plc (NYSE:ACN) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,324 shares of the information technology services provider’s stock after selling 146 shares during the period. Aries Wealth Management’s holdings in Accenture were worth $1,312,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Community Financial Services Group LLC increased its holdings in shares of Accenture by 4.9% during the 2nd quarter. Community Financial Services Group LLC now owns 5,047 shares of the information technology services provider’s stock worth $1,531,000 after acquiring an additional 236 shares during the last quarter. Field & Main Bank raised its position in shares of Accenture by 3.9% in the second quarter. Field & Main Bank now owns 5,062 shares of the information technology services provider’s stock valued at $1,536,000 after purchasing an additional 188 shares during the period. Institute for Wealth Management LLC. boosted its holdings in shares of Accenture by 8.4% during the 2nd quarter. Institute for Wealth Management LLC. now owns 2,201 shares of the information technology services provider’s stock worth $668,000 after buying an additional 170 shares during the period. Fullcircle Wealth LLC acquired a new position in Accenture in the 2nd quarter valued at about $2,175,000. Finally, Banque Pictet & Cie SA lifted its position in Accenture by 106.7% during the second quarter. Banque Pictet & Cie SA now owns 27,820 shares of the information technology services provider’s stock worth $8,441,000 after acquiring an additional 14,358 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ACN. Piper Sandler Companies dropped their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Robert W. Baird decreased their target price on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. The Goldman Sachs Group initiated coverage on Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price target on the stock. Wedbush cut their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Finally, Barclays dropped their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.33.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was 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 of the company’s stock, valued at $3,652,661.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 over the last ninety days. 0.07% of the stock is owned by corporate insiders.

Accenture Trading Up 0.8 %

NYSE:ACN traded up $2.70 on Friday, reaching $333.27. 1,518,702 shares of the stock traded hands, compared to its average volume of 2,841,372. The firm has a market capitalization of $208.86 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The company’s 50 day moving average is $315.47 and its 200-day moving average is $326.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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 firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $3.19 EPS. On average, equities research analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a $1.29 dividend. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.55%. Accenture’s dividend payout ratio is currently 47.25%.

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.