AdvisorNet Financial Inc Sells 44 Shares of Accenture plc (NYSE:ACN)

AdvisorNet Financial Inc lowered its position in shares of Accenture plc (NYSE:ACNGet Rating) by 2.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,057 shares of the information technology services provider’s stock after selling 44 shares during the quarter. AdvisorNet Financial Inc’s holdings in Accenture were worth $571,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Citizens National Bank Trust Department bought a new position in Accenture during the 4th quarter valued at approximately $31,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Accenture during the first quarter valued at approximately $26,000. Ulland Investment Advisors LLC bought a new stake in Accenture in the first quarter valued at $29,000. Delos Wealth Advisors LLC purchased a new stake in shares of Accenture in the 4th quarter worth about $39,000. Finally, Tyler Stone Wealth Management bought a new stake in shares of Accenture during the 4th quarter valued at about $48,000. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ACN. BMO Capital Markets initiated coverage on shares of Accenture in a report on Friday, June 24th. They issued a “hold” rating and a $337.00 price objective for the company. Exane BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price objective for the company. in a research report on Wednesday, June 29th. Barclays reduced their target price on shares of Accenture from $455.00 to $370.00 and set an “overweight” rating on the stock in a research report on Friday, June 24th. Finally, Robert W. Baird lifted their price target on shares of Accenture from $310.00 to $338.00 and gave the company a “neutral” rating in a research report on Tuesday, August 9th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $355.63.

Insider Transactions at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 3,278 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $888,108.54. Following the completion of the sale, the chief executive officer now directly owns 16,978 shares of the company’s stock, valued at $4,599,849.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Accenture news, CEO Julie Spellman Sweet sold 3,278 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $888,108.54. Following the sale, the chief executive officer now owns 16,978 shares in the company, valued at approximately $4,599,849.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 555 shares of Accenture stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $166,500.00. Following the transaction, the general counsel now owns 25,601 shares in the company, valued at approximately $7,680,300. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock worth $3,132,777 in the last quarter. Company insiders own 0.07% of the company’s stock.

Accenture Stock Down 0.4 %

Shares of ACN stock opened at $272.68 on Monday. The company has a 50 day moving average price of $295.30 and a 200-day moving average price of $300.99. Accenture plc has a 52 week low of $261.77 and a 52 week high of $417.37. The firm has a market capitalization of $172.48 billion, a PE ratio of 26.45, a P/E/G ratio of 2.30 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last announced its earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.05). The company had revenue of $16.16 billion for the quarter, compared to analysts’ expectations of $16.05 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. During the same quarter in the prior year, the firm posted $2.40 earnings per share. Analysts anticipate that Accenture plc will post 10.69 earnings per share for the current year.

Accenture Announces Dividend

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

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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