Bank Julius Baer & Co. Ltd Zurich cut its position in Accenture PLC (NYSE:ACN - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 481,204 shares of the information technology services provider's stock after selling 7,905 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.08% of Accenture worth $163,383,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Visionary Wealth Advisors raised its position in shares of Accenture by 3.5% in the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after buying an additional 26 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after purchasing an additional 27 shares during the last quarter. Nemes Rush Group LLC lifted its stake in Accenture by 7.5% in the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock valued at $147,000 after purchasing an additional 29 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in Accenture by 0.3% in the 4th quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider's stock valued at $3,863,000 after purchasing an additional 30 shares during the last quarter. Finally, Sentinus LLC lifted its stake in Accenture by 4.2% in the 4th quarter. Sentinus LLC now owns 763 shares of the information technology services provider's stock valued at $268,000 after purchasing an additional 31 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ACN has been the subject of several research reports. Benchmark reissued a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Argus set a $370.00 price target on shares of Accenture in a research note on Tuesday, June 24th. UBS Group reaffirmed a "buy" rating and set a $395.00 price target (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Morgan Stanley dropped their price target on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 24th. Finally, Guggenheim dropped their price target on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Eight equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $365.43.
Get Our Latest Analysis on ACN
Accenture Stock Up 0.8%
Shares of Accenture stock traded up $2.34 during trading hours on Friday, reaching $284.05. The company's stock had a trading volume of 1,073,970 shares, compared to its average volume of 3,353,319. Accenture PLC has a one year low of $273.19 and a one year high of $398.35. The company has a market capitalization of $177.91 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.71 and a beta of 1.29. The stock's fifty day simple moving average is $303.28 and its two-hundred day simple moving average is $322.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.
Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share 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 analyst estimates of $17.26 billion. During the same period last year, the firm earned $3.13 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.
Accenture Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is currently 47.13%.
Insider Activity
In other Accenture news, insider Angela Beatty sold 203 shares of Accenture stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the sale, the insider owned 5,249 shares of the company's stock, valued at approximately $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares in the company, valued at approximately $2,290,387.05. This represents a 21.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock valued at $1,646,780 over the last ninety days. Company insiders own 0.02% of the company's stock.
Accenture Company 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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