Atria Investments Inc Sells 5,264 Shares of Accenture PLC (NYSE:ACN)

Atria Investments Inc lowered its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,186 shares of the information technology services provider's stock after selling 5,264 shares during the period. Atria Investments Inc's holdings in Accenture were worth $22,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC bought a new position in Accenture during the fourth quarter worth about $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture during the 4th quarter valued at about $31,000. Inlight Wealth Management LLC bought a new position in shares of Accenture during the 1st quarter valued at about $32,000. Capital A Wealth Management LLC bought a new position in shares of Accenture during the 4th quarter valued at about $34,000. Finally, Navigoe LLC bought a new position in shares of Accenture during the 4th quarter valued at about $37,000. Institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

Shares of ACN stock traded up $1.39 during trading on Friday, reaching $283.10. 2,629,706 shares of the company's stock were exchanged, compared to its average volume of 3,347,475. 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's fifty day moving average price is $302.60 and its 200-day moving average price is $322.37. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The stock has a market capitalization of $177.31 billion, a PE ratio of 22.54, a PEG ratio of 2.67 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data 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. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm 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 firm posted $3.13 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be given 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 2.09%. Accenture's payout ratio is 47.13%.

Insider Buying and Selling

In other Accenture news, CEO Mauro Macchi sold 500 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the sale, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 203 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider owned 5,249 shares in the company, valued at $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock worth $1,646,780 in the last ninety days. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent analyst reports. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Accenture in a report on Thursday, July 17th. They set a "hold" rating and a $290.00 price objective on the stock. Morgan Stanley cut their price objective on Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their target price on Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, BMO Capital Markets dropped their target price 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. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $365.43.

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.