Oppenheimer Asset Management Inc. Sells 2,620 Shares of Accenture PLC (NYSE:ACN)

Oppenheimer Asset Management Inc. decreased its position in Accenture PLC (NYSE:ACN - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,190 shares of the information technology services provider's stock after selling 2,620 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Accenture were worth $41,249,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACN. Capital Research Global Investors lifted its holdings in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Alteri Wealth LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $321,000. Proficio Capital Partners LLC lifted its holdings 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 valued at $861,000 after purchasing an additional 789 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Accenture by 62.2% during the first quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock valued at $282,000 after purchasing an additional 347 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $317,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Activity

In related news, COO John F. Walsh sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now owns 15,882 shares in the company, valued at $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,516 shares of company stock valued at $2,507,366. Insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group reissued a "buy" rating and issued a $395.00 price objective (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Piper Sandler reduced their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Barclays reduced their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research note on Monday. Wall Street Zen downgraded Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Robert W. Baird raised Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research note on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and a consensus price target of $370.75.

Accenture Stock Up 1.9%

ACN stock traded up $5.66 during mid-day trading on Tuesday, hitting $300.66. The stock had a trading volume of 4,940,464 shares, compared to its average volume of 2,942,337. The company has a current ratio of 1.46, a quick ratio of 1.48 and a debt-to-equity ratio of 0.16. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35. The company has a fifty day moving average of $307.33 and a 200 day moving average of $332.81. The stock has a market capitalization of $188.31 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.94 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.13 EPS. On average, equities analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio is 47.13%.

Accenture 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.