Accenture PLC (NYSE:ACN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,727 shares of the information technology services provider's stock after selling 2,118 shares during the quarter. Mutual of America Capital Management LLC's holdings in Accenture were worth $22,694,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BankPlus Trust Department grew its position in shares of Accenture by 4.9% during the 1st quarter. BankPlus Trust Department now owns 8,802 shares of the information technology services provider's stock worth $2,747,000 after buying an additional 411 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Accenture by 6.2% in the 1st quarter. Arizona State Retirement System now owns 192,561 shares of the information technology services provider's stock valued at $60,087,000 after purchasing an additional 11,301 shares in the last quarter. Realta Investment Advisors bought a new stake in shares of Accenture in the 1st quarter valued at about $572,000. Ballentine Partners LLC boosted its stake in shares of Accenture by 10.7% during the first quarter. Ballentine Partners LLC now owns 18,880 shares of the information technology services provider's stock valued at $5,891,000 after purchasing an additional 1,825 shares in the last quarter. Finally, Berbice Capital Management LLC raised its stake in Accenture by 100.0% in the first quarter. Berbice Capital Management LLC now owns 200 shares of the information technology services provider's stock worth $62,000 after buying an additional 100 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer directly owned 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.02% of the company's stock.

Accenture Stock Performance

Shares of NYSE ACN traded down $3.69 during midday trading on Monday, reaching $277.37. 1,357,779 shares of the stock were exchanged, compared to its average volume of 2,915,169. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $309.00 and a two-hundred day simple moving average of $326.89. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The firm has a market cap of $173.72 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.64 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results 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 firm had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $3.13 EPS. As a group, analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid 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 2.13%. Accenture's dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACN shares. Morgan Stanley cut their price target on Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Barclays reduced their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a report on Monday, June 23rd. Mizuho set a $348.00 price objective on shares of Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. UBS Group restated a "buy" rating and issued a $395.00 target price (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Finally, BMO Capital Markets reduced their price target on Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research report on Monday, June 23rd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $370.71.

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.