Accenture PLC (NYSE:ACN) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC cut its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 43.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,142 shares of the information technology services provider's stock after selling 2,387 shares during the quarter. Tyche Wealth Partners LLC's holdings in Accenture were worth $980,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Accenture during the fourth quarter valued at $2,351,683,000. GAMMA Investing LLC boosted its stake in shares of Accenture by 30,256.8% during the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock valued at $1,067,651,000 after acquiring an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after acquiring an additional 2,260,740 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Accenture in the fourth quarter valued at $666,495,000. Finally, Capital Research Global Investors grew its position in shares of Accenture by 16.8% in 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 period. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a research report on Friday. Mizuho lowered their price objective on Accenture from $365.00 to $348.00 and set an "outperform" rating for the company in a research report on Tuesday. Wall Street Zen downgraded Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Guggenheim reduced their target price on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a report on Monday. Finally, Barclays reduced their target price on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday. Seven 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 data from MarketBeat.com, Accenture currently has a consensus rating of "Moderate Buy" and a consensus price target of $370.75.

Insider Activity

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares of the company's stock, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,516 shares of company stock valued at $2,507,366. Insiders own 0.02% of the company's stock.

Accenture Stock Up 1.9%

Shares of Accenture stock opened at $300.66 on Wednesday. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $188.31 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.94 and a beta of 1.33. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The business has a 50-day moving average price of $307.33 and a 200 day moving average price of $332.81.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.17. The firm had revenue of $17.73 billion during 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%. Accenture's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.13 earnings per share. On average, sell-side analysts forecast that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.97%. 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.

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