Accenture PLC (NYSE:ACN) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. trimmed its position in Accenture PLC (NYSE:ACN - Free Report) by 29.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,635 shares of the information technology services provider's stock after selling 1,931 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in Accenture were worth $1,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ACN. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the 4th quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new position in Accenture during the 4th quarter worth $30,000. Park Square Financial Group LLC purchased a new position in Accenture during the 4th quarter worth $31,000. Inlight Wealth Management LLC purchased a new stake in Accenture in the 1st quarter valued at approximately $32,000. Finally, Promus Capital LLC purchased a new stake in Accenture in the 4th quarter valued at approximately $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The shares were 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 owns 5,364 shares of the company's stock, valued at $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction 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 directly owns 15,882 shares of the company's stock, valued at $5,161,650. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACN. Barclays lowered their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday. Morgan Stanley decreased their price objective on shares of Accenture from $372.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, June 12th. Wall Street Zen downgraded shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Guggenheim decreased their price objective on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a report on Monday. Finally, Royal Bank Of Canada decreased their price objective on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $374.00.

Accenture Stock Performance

NYSE:ACN opened at $295.03 on Tuesday. The firm has a 50 day simple moving average of $307.08 and a 200-day simple moving average of $333.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. The firm has a market cap of $184.79 billion, a PE ratio of 23.49, a P/E/G ratio of 2.85 and a beta of 1.33. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35.

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

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