Fonville Wealth Management LLC Sells 50 Shares of Accenture plc (NYSE:ACN)

Fonville Wealth Management LLC lessened its holdings in Accenture plc (NYSE:ACN) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,565 shares of the information technology services provider’s stock after selling 50 shares during the quarter. Fonville Wealth Management LLC’s holdings in Accenture were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ACN. Unique Wealth Strategies LLC acquired a new stake in shares of Accenture in the 2nd quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $27,000. Annapolis Financial Services LLC raised its position 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 acquiring an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. raised its position in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 58 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. 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 target price on the stock. Jefferies Financial Group dropped their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Guggenheim restated a “buy” rating and set a $395.00 target price on shares of Accenture in a report on Friday, May 24th. Mizuho dropped their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, BMO Capital Markets dropped their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $352.33.

Accenture Stock Performance

Shares of NYSE ACN traded up $1.74 during mid-day trading on Friday, hitting $341.95. 2,004,144 shares of the stock traded hands, compared to its average volume of 2,810,327. The stock has a fifty day moving average price of $319.98 and a 200-day moving average price of $325.52. The company has a market cap of $214.30 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.66 and a beta of 1.23. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share 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 analysts’ expectations of $16.55 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Announces Dividend

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

Insider Activity at Accenture

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 completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by insiders.

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.