Accenture PLC (NYSE:ACN) Shares Sold by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC cut its holdings in Accenture PLC (NYSE:ACN - Free Report) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,948 shares of the information technology services provider's stock after selling 2,327 shares during the quarter. Dynasty Wealth Management LLC's holdings in Accenture were worth $4,352,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ACN. Brighton Jones LLC increased its stake in Accenture by 36.2% in the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after purchasing an additional 4,905 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Accenture by 47.6% during the fourth quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock worth $861,000 after acquiring an additional 789 shares during the period. Cozad Asset Management Inc. increased its stake in shares of Accenture by 5.2% during the fourth quarter. Cozad Asset Management Inc. now owns 670 shares of the information technology services provider's stock worth $236,000 after acquiring an additional 33 shares during the period. Guardian Partners Inc. acquired a new position in shares of Accenture during the fourth quarter worth about $594,000. Finally, Evoke Wealth LLC increased its stake in shares of Accenture by 1.3% during the fourth quarter. Evoke Wealth LLC now owns 5,088 shares of the information technology services provider's stock worth $1,790,000 after acquiring an additional 66 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the transaction, the chief executive officer owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 203 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the transaction, the insider directly owned 5,249 shares in the company, valued at approximately $1,482,002.66. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,454 shares of company stock worth $1,646,780. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group reiterated a "buy" rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Evercore ISI initiated coverage on shares of Accenture in a research note on Thursday. They set an "outperform" rating and a $330.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $365.43.

Accenture Price Performance

Shares of NYSE ACN traded down $0.33 on Friday, hitting $282.37. The company's stock had a trading volume of 4,207,339 shares, compared to its average volume of 2,926,240. Accenture PLC has a 12-month low of $273.19 and a 12-month high of $398.35. The company has a market capitalization of $176.86 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a 50 day moving average of $306.83 and a 200-day moving average of $325.21.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.13 earnings per share. As a group, research analysts predict 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 Friday, August 15th. Investors of record on Thursday, July 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is 47.13%.

About Accenture

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.