Atlantic Union Bankshares Corp Decreases Stock Holdings in Accenture PLC (NYSE:ACN)

Atlantic Union Bankshares Corp reduced its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,424 shares of the information technology services provider's stock after selling 1,621 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Accenture were worth $7,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Accenture in the fourth quarter valued at about $30,000. Park Square Financial Group LLC acquired a new position in shares of Accenture in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the fourth quarter worth about $34,000. Mountain Hill Investment Partners Corp. acquired a new stake in Accenture during the fourth quarter worth about $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in Accenture during the first quarter worth about $32,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Accenture in a report on Thursday. They set a "hold" rating and a $290.00 target price on the stock. UBS Group reiterated a "buy" rating and set a $395.00 price target (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Piper Sandler lowered their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets lowered 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. Finally, JPMorgan Chase & Co. increased their price target on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $365.43.

Accenture Trading Down 0.1%

Shares of NYSE ACN opened at $282.37 on Friday. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $306.32 and a 200-day simple moving average of $324.54. The stock has a market capitalization of $176.86 billion, a PE ratio of 22.48, a PEG ratio of 2.65 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $17.26 billion. During the same period in the previous year, the firm posted $3.13 EPS. Accenture's revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is currently 47.13%.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares of the company's stock, valued at $1,482,002.66. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the sale, the chief executive officer directly owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,454 shares of company stock valued at $1,646,780 over the last quarter. Company insiders own 0.02% of the company's stock.

About Accenture

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.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.