Private Management Group Inc. Has $266,000 Stake in Accenture plc (NYSE:ACN)

Private Management Group Inc. cut its stake in Accenture plc (NYSE:ACN) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 877 shares of the information technology services provider’s stock after selling 75 shares during the period. Private Management Group Inc.’s holdings in Accenture were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ACN. Accretive Wealth Partners LLC boosted its position in Accenture by 2.3% during the 4th quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock worth $762,000 after acquiring an additional 48 shares during the last quarter. Aveo Capital Partners LLC grew its position in Accenture by 7.6% in the fourth quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock valued at $794,000 after purchasing an additional 160 shares in the last quarter. 9258 Wealth Management LLC increased its stake in Accenture by 3.6% in the 4th quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $459,000 after buying an additional 46 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Accenture by 79.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock worth $881,000 after buying an additional 1,123 shares in the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Accenture by 206.0% during the 4th quarter. Jump Financial LLC now owns 2,806 shares of the information technology services provider’s stock worth $985,000 after buying an additional 1,889 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following 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 Securities & Exchange Commission, which is accessible through this link. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were 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 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. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN opened at $341.71 on Tuesday. The business has a fifty day moving average price of $324.42 and a two-hundred day moving average price of $323.84. The stock has a market capitalization of $214.15 billion, a PE ratio of 31.29, a P/E/G ratio of 3.60 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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 firm had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.19 earnings per share. On average, equities analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued 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 is presently 47.25%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACN shares. Barclays reduced their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Stifel Nicolaus decreased their target price on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Guggenheim reaffirmed a “buy” rating and set a $395.00 price target on shares of Accenture in a research report on Friday, May 24th. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho cut their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $353.41.

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.