Raub Brock Capital Management LP reduced its position in shares of Accenture plc (NYSE:ACN - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,507 shares of the information technology services provider's stock after selling 2,787 shares during the quarter. Accenture comprises about 3.4% of Raub Brock Capital Management LP's portfolio, making the stock its 19th biggest position. Raub Brock Capital Management LP's holdings in Accenture were worth $15,448,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Accenture by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 238,295 shares of the information technology services provider's stock valued at $74,357,000 after acquiring an additional 9,689 shares in the last quarter. Stock Yards Bank & Trust Co. increased its holdings in shares of Accenture by 0.6% during the first quarter. Stock Yards Bank & Trust Co. now owns 99,658 shares of the information technology services provider's stock valued at $31,097,000 after acquiring an additional 555 shares in the last quarter. BNC Wealth Management LLC raised its position in shares of Accenture by 635.2% in the 1st quarter. BNC Wealth Management LLC now owns 17,101 shares of the information technology services provider's stock valued at $5,336,000 after purchasing an additional 14,775 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Accenture by 3.3% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,593 shares of the information technology services provider's stock valued at $2,057,000 after acquiring an additional 213 shares during the period. Finally, Elevation Point Wealth Partners LLC raised its stake in Accenture by 14.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 14,850 shares of the information technology services provider's stock worth $4,634,000 after acquiring an additional 1,853 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $812,500.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 over the last 90 days. 0.02% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts have commented on ACN shares. Guggenheim decreased their price objective on shares of Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Morgan Stanley reduced their target price on Accenture from $372.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, June 12th. Wall Street Zen downgraded shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Royal Bank of Canada lowered their price target on Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Finally, BMO Capital Markets upped their price objective on shares of Accenture to $355.00 and gave the company a "hold" rating in a research note on Wednesday, March 26th. Seven investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $380.00.
Check Out Our Latest Stock Report on Accenture
Accenture Trading Down 0.7%
NYSE ACN traded down $2.30 during trading on Tuesday, hitting $312.03. The stock had a trading volume of 2,478,197 shares, compared to its average volume of 2,956,007. The firm has a 50 day moving average price of $306.16 and a 200 day moving average price of $335.06. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35. The company has a market capitalization of $195.43 billion, a PE ratio of 26.18, a PEG ratio of 3.23 and a beta of 1.33.
Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. During the same period in the previous year, the firm posted $2.77 EPS. Accenture's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.
Accenture Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture's dividend payout ratio is presently 48.89%.
Accenture Profile
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Free Report)
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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