Accenture plc (NYSE:ACN) Shares Bought by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV raised its position in Accenture plc (NYSE:ACN) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,336 shares of the information technology services provider’s stock after acquiring an additional 37 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Accenture were worth $405,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in shares of Accenture during the second quarter worth $26,000. Annapolis Financial Services LLC lifted its stake in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Accenture during the fourth quarter worth $29,000. Atwood & Palmer Inc. raised its holdings in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new position in shares of Accenture during the fourth quarter worth $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the sale, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred 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 sale, 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. In the last three months, insiders have sold 21,421 shares of company stock valued at $6,912,635. Company insiders own 0.07% of the company’s stock.

Accenture Price Performance

NYSE:ACN opened at $341.95 on Tuesday. The firm has a market capitalization of $214.30 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.81 and a beta of 1.23. The company’s 50-day moving average is $320.67 and its two-hundred day moving average is $324.73. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

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

Accenture Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Susquehanna reduced their target price on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft cut shares of Accenture from a “buy” rating to a “hold” rating and cut their price objective for the company from $409.00 to $295.00 in a report on Wednesday, May 15th. Piper Sandler Companies cut their price objective 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. BMO Capital Markets cut their price objective on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, June 21st. Finally, Bank of America cut their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $352.33.

Accenture 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.