Regent Peak Wealth Advisors LLC Sells 2,272 Shares of Accenture plc (NYSE:ACN)

Regent Peak Wealth Advisors LLC decreased its holdings in Accenture plc (NYSE:ACN) by 4.5% during the 1st quarter, HoldingsChannel reports. The fund owned 47,743 shares of the information technology services provider’s stock after selling 2,272 shares during the quarter. Accenture comprises approximately 3.5% of Regent Peak Wealth Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Regent Peak Wealth Advisors LLC’s holdings in Accenture were worth $14,898,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Orrstown Financial Services Inc. increased its holdings in Accenture by 29.5% in the first quarter. Orrstown Financial Services Inc. now owns 1,810 shares of the information technology services provider’s stock valued at $565,000 after buying an additional 412 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in Accenture by 1.4% in the first quarter. Gateway Investment Advisers LLC now owns 120,931 shares of the information technology services provider’s stock valued at $37,735,000 after buying an additional 1,689 shares during the last quarter. Stokes Capital Advisors LLC increased its holdings in Accenture by 1.8% in the first quarter. Stokes Capital Advisors LLC now owns 22,861 shares of the information technology services provider’s stock valued at $7,134,000 after buying an additional 396 shares during the last quarter. Radnor Capital Management LLC increased its holdings in Accenture by 0.8% in the first quarter. Radnor Capital Management LLC now owns 18,651 shares of the information technology services provider’s stock valued at $5,820,000 after buying an additional 144 shares during the last quarter. Finally, Verum Partners LLC increased its holdings in Accenture by 3.8% in the first quarter. Verum Partners LLC now owns 1,810 shares of the information technology services provider’s stock valued at $565,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer now owns 15,882 shares of the company’s stock, valued at $5,161,650. This trade represents a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of several recent research reports. Guggenheim lowered their target price on Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wall Street Zen lowered Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Barclays lowered their target price on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price for the company in a report on Monday, March 17th. Finally, Royal Bank of Canada lowered their target price on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $382.14.

Accenture Stock Performance

ACN opened at $317.49 on Friday. The company has a market capitalization of $198.85 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35. The business has a 50 day moving average price of $303.15 and a two-hundred day moving average price of $337.11.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.77 earnings per share. Research analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a $1.48 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.86%. 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.