Amalgamated Bank Grows Stock Holdings in Accenture PLC (NYSE:ACN)

Amalgamated Bank grew its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,212 shares of the information technology services provider's stock after purchasing an additional 1,253 shares during the period. Amalgamated Bank's holdings in Accenture were worth $38,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACN. Capital Research Global Investors grew its position in Accenture by 16.8% during 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 acquiring an additional 1,770,024 shares during the last quarter. Alteri Wealth LLC purchased a new stake in shares of Accenture in the 4th quarter valued at $321,000. Proficio Capital Partners LLC grew its holdings in shares of Accenture by 47.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock valued at $861,000 after purchasing an additional 789 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Accenture by 62.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock worth $282,000 after purchasing an additional 347 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Accenture in the fourth quarter worth $317,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 169 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the sale, the insider directly owned 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John F. Walsh sold 2,500 shares of Accenture 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 transaction, the chief operating officer owned 15,882 shares in the company, valued at $5,161,650. This represents a 13.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,516 shares of company stock worth $2,507,366. Company insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ACN shares. Mizuho set a $348.00 price objective on Accenture and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Royal Bank Of Canada lowered their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a research note on Monday, March 17th. Finally, Wall Street Zen lowered shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Accenture has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Accenture Stock Up 1.2%

Shares of ACN stock traded up $3.67 during mid-day trading on Tuesday, reaching $302.56. 3,565,561 shares of the company's stock traded hands, compared to its average volume of 2,900,444. The company's 50-day moving average price is $308.43 and its 200-day moving average price is $330.80. The company has a market cap of $189.50 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.93 and a beta of 1.30. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly 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. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter in the prior year, the company posted $3.13 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.96%. 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.