Accenture plc (NYSE:ACN) Shares Sold by Elk River Wealth Management LLC

Elk River Wealth Management LLC cut its position in shares of Accenture plc (NYSE:ACN) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,941 shares of the information technology services provider’s stock after selling 301 shares during the quarter. Accenture makes up 1.2% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Elk River Wealth Management LLC’s holdings in Accenture were worth $6,222,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. FPC Investment Advisory Inc. increased its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the 4th quarter worth $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Accenture in the 4th quarter worth $30,000. POM Investment Strategies LLC grew its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the period. Finally, Park Square Financial Group LLC acquired a new stake in Accenture during the fourth quarter worth about $31,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 169 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now directly owns 5,364 shares in the company, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ACN has been the subject of a number of research analyst reports. Guggenheim dropped their target price on shares of Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Mizuho cut their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Royal Bank of Canada reduced their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Wall Street Zen lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $382.14.

Accenture Price Performance

Shares of ACN opened at $317.49 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $198.85 billion, a P/E ratio of 26.64, a PEG ratio of 3.23 and a beta of 1.33. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The stock has a fifty day moving average price of $303.15 and a 200 day moving average price of $337.25.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. During the same period last year, the firm posted $2.77 EPS. Accenture’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

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.