Accenture PLC $ACN Shares Sold by Alliance Wealth Advisors LLC UT

Key Points

• Alliance Wealth Advisors LLC UT cut its stake in Accenture by 37.6%, selling 6,675 shares and leaving it with 11,069 shares worth about $2.97 million at quarter end.
• Company insiders sold a total of 10,943 shares last quarter (about $2.33 million), including CEO Atsushi Egawa (4,872 shares, ~$863k) and Julie Spellman Sweet (6,057 shares, ~$1.46M); insiders now own ~0.02% of the stock.
• Accenture beat quarterly EPS and revenue expectations with revenue up 7.8% year-over-year, announced a $1.63 quarterly dividend (annualized $6.52, ~3.6% yield), and carries a consensus analyst rating of "Moderate Buy" with a $274.50 target.

Alliance Wealth Advisors LLC UT lowered its holdings in Accenture PLC (NYSE:ACN - Free Report) by 37.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,069 shares of the information technology services provider's stock after selling 6,675 shares during the period. Alliance Wealth Advisors LLC UT's holdings in Accenture were worth $2,970,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC grew its holdings in shares of Accenture by 4.2% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider's stock worth $236,000 after purchasing an additional 35 shares during the last quarter. Clayton Financial Group LLC grew its stake in Accenture by 13.1% during the 4th quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider's stock worth $88,000 after buying an additional 38 shares during the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. increased its position in Accenture by 0.9% during the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider's stock worth $1,089,000 after buying an additional 41 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Accenture by 1.2% in the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider's stock valued at $1,108,000 after acquiring an additional 43 shares during the period. Finally, IVC Wealth Advisors LLC boosted its stake in Accenture by 5.0% during the 4th quarter. IVC Wealth Advisors LLC now owns 927 shares of the information technology services provider's stock worth $249,000 after purchasing an additional 44 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Atsushi Egawa sold 4,872 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer owned 12,802 shares of the company's stock, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Julie Spellman Sweet sold 6,057 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $241.23, for a total transaction of $1,461,130.11. Following the sale, the chief executive officer owned 15,255 shares in the company, valued at approximately $3,679,963.65. This trade represents a 28.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 10,943 shares of company stock worth $2,327,545. 0.02% of the stock is owned by insiders.

Accenture Trading Up 0.2%

Shares of Accenture stock opened at $180.24 on Tuesday. The company has a 50-day moving average of $196.46 and a two-hundred day moving average of $235.78. The stock has a market cap of $119.94 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12-month low of $173.65 and a 12-month high of $325.71.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. During the same quarter in the prior year, the company earned $2.82 earnings per share. Accenture's revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Accenture PLC will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 dividend on an annualized basis and a yield of 3.6%. Accenture's dividend payout ratio is presently 53.40%.

Analyst Ratings Changes

Several equities analysts recently issued reports on ACN shares. Mizuho dropped their price target on Accenture from $309.00 to $280.00 and set an "outperform" rating on the stock in a research report on Monday, March 23rd. Rothschild & Co Redburn upped their price target on Accenture from $205.00 to $210.00 and gave the stock a "neutral" rating in a research note on Monday, January 5th. UBS Group restated a "buy" rating on shares of Accenture in a research report on Tuesday, March 17th. Robert W. Baird reduced their price objective on shares of Accenture from $330.00 to $265.00 and set an "outperform" rating for the company in a research report on Friday, March 20th. Finally, Truist Financial cut their target price on Accenture from $317.00 to $260.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Accenture presently has an average rating of "Moderate Buy" and a consensus target price of $274.50.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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