Accenture plc (NYSE:ACN) Stake Increased by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC increased its stake in Accenture plc (NYSE:ACN) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,404 shares of the information technology services provider’s stock after buying an additional 751 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Accenture were worth $10,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in Accenture in the fourth quarter worth $295,000. Silver Oak Securities Incorporated boosted its holdings in Accenture by 84.7% in the fourth quarter. Silver Oak Securities Incorporated now owns 820 shares of the information technology services provider’s stock worth $288,000 after purchasing an additional 376 shares during the period. Choreo LLC boosted its holdings in Accenture by 67.8% in the fourth quarter. Choreo LLC now owns 2,942 shares of the information technology services provider’s stock worth $1,032,000 after purchasing an additional 1,189 shares during the period. Van ECK Associates Corp boosted its holdings in Accenture by 8.1% in the fourth quarter. Van ECK Associates Corp now owns 123,131 shares of the information technology services provider’s stock worth $43,208,000 after purchasing an additional 9,195 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its holdings in Accenture by 0.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 7,003 shares of the information technology services provider’s stock worth $2,457,000 after purchasing an additional 30 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.5 %

Accenture stock traded up $1.74 during midday trading on Friday, hitting $341.95. The company’s stock had a trading volume of 2,004,144 shares, compared to its average volume of 2,810,327. The stock’s 50-day moving average price is $319.32 and its 200-day moving average price is $325.69. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a market capitalization of $214.30 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

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 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 business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter last year, the firm posted $3.19 earnings per share. Accenture’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.51%. Accenture’s payout ratio is presently 47.25%.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the sale, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of Accenture stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction dated 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 transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,421 shares of company stock worth $6,912,635. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

ACN has been the subject of several analyst reports. Mizuho reduced their price target on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Robert W. Baird reduced their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Piper Sandler Companies reduced their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 price target for the company. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $352.33.

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.