Park Place Capital Corp Decreases Holdings in Accenture PLC (NYSE:ACN)

Park Place Capital Corp trimmed its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 38.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,748 shares of the information technology services provider's stock after selling 1,107 shares during the quarter. Park Place Capital Corp's holdings in Accenture were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Accenture during the 4th quarter valued at about $30,000. Park Square Financial Group LLC acquired a new stake in Accenture in the 4th quarter valued at about $31,000. Promus Capital LLC purchased a new position in Accenture in the 4th quarter worth approximately $34,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Accenture during the 4th quarter worth approximately $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ACN shares. UBS Group reiterated a "buy" rating and set a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Morgan Stanley cut their target price on Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research note on Tuesday. Royal Bank Of Canada lowered their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Benchmark restated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Finally, Robert W. Baird upgraded shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction dated 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 transaction, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares in the company, valued at $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 in the last quarter. 0.02% of the stock is owned by company insiders.

Accenture Trading Down 0.3%

Shares of ACN traded down $0.82 during midday trading on Friday, hitting $295.26. 4,159,093 shares of the stock were exchanged, compared to its average volume of 2,943,751. The firm has a market cap of $184.93 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.89 and a beta of 1.33. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. The stock has a fifty day simple moving average of $307.78 and a 200 day simple moving average of $332.11.

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

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.01%. Accenture's dividend payout ratio (DPR) is presently 47.13%.

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.