Accenture plc (NYSE:ACN) Shares Sold by Gradient Investments LLC

Gradient Investments LLC reduced its position in Accenture plc (NYSE:ACNGet Rating) by 72.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 76 shares of the information technology services provider’s stock after selling 200 shares during the quarter. Gradient Investments LLC’s holdings in Accenture were worth $26,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Accenture by 52.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the information technology services provider’s stock valued at $382,000 after buying an additional 389 shares during the period. M Holdings Securities Inc. purchased a new stake in Accenture during the 1st quarter worth approximately $1,673,000. Roffman Miller Associates Inc. PA increased its holdings in Accenture by 3.3% during the 1st quarter. Roffman Miller Associates Inc. PA now owns 52,977 shares of the information technology services provider’s stock worth $17,865,000 after purchasing an additional 1,702 shares during the last quarter. Castellan Group increased its holdings in Accenture by 31.1% during the 1st quarter. Castellan Group now owns 4,995 shares of the information technology services provider’s stock worth $1,684,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Verity Asset Management Inc. purchased a new stake in Accenture during the 1st quarter worth approximately $78,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ACN. Morgan Stanley dropped their price objective on Accenture from $385.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, September 7th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 target price for the company. in a research report on Wednesday, June 29th. Exane BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 29th. BMO Capital Markets started coverage on Accenture in a research report on Friday, June 24th. They issued a “hold” rating and a $337.00 target price for the company. Finally, Barclays decreased their target price on Accenture from $455.00 to $370.00 and set an “overweight” rating for the company in a research report on Friday, June 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $355.63.

Insider Transactions at Accenture

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the sale, the insider now owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the sale, the insider now directly owns 159,630 shares of the company’s stock, valued at $43,248,555.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 750 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $225,000.00. Following the sale, the insider now directly owns 21,400 shares in the company, valued at $6,420,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,389 shares of company stock valued at $3,132,777. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $272.68 on Friday. Accenture plc has a 1 year low of $261.77 and a 1 year high of $417.37. The stock has a fifty day moving average of $295.30 and a two-hundred day moving average of $301.06. The firm has a market capitalization of $172.48 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.31 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings data on Thursday, June 23rd. The information technology services provider reported $2.79 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.05). Accenture had a return on equity of 31.50% and a net margin of 11.13%. The firm had revenue of $16.16 billion during the quarter, compared to the consensus estimate of $16.05 billion. During the same period in the prior year, the firm posted $2.40 EPS. Equities research analysts predict that Accenture plc will post 10.68 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Thursday, July 14th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, July 13th. Accenture’s dividend payout ratio is presently 37.63%.

Accenture Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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