Accenture plc (NYSE:ACN) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC reduced its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,910 shares of the information technology services provider's stock after selling 2,354 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Accenture were worth $10,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Morse Asset Management Inc acquired a new position in shares of Accenture during the 3rd quarter worth approximately $25,000. 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 buying an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture during the fourth quarter worth $30,000. POM Investment Strategies LLC increased 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 worth $31,000 after buying an additional 34 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Accenture during the fourth quarter worth $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Up 0.5 %

Shares of NYSE ACN traded up $1.64 during midday trading on Thursday, reaching $300.79. 2,846,407 shares of the company's stock were exchanged, compared to its average volume of 2,981,863. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The stock has a market capitalization of $188.39 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The business's fifty day moving average price is $311.16 and its two-hundred day moving average price is $345.90.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.77 earnings per share. Analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, April 10th. Accenture's dividend payout ratio is currently 48.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ACN shares. UBS Group dropped their price target on Accenture from $455.00 to $387.00 and set a "buy" rating for the company in a research report on Friday, March 21st. StockNews.com downgraded Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Royal Bank of Canada dropped their price target on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Mizuho decreased their price objective on Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a report on Wednesday, March 19th. Finally, Barclays decreased their price objective on Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Eight 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. According to MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.82.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 232 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $47,641.10. Following the completion of the sale, the insider now directly owns 5,364 shares in the company, valued at $1,512,111.60. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,041 shares of company stock valued at $5,254,956 over the last three months. 0.02% of the stock is owned by insiders.

Accenture Company 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.