Bowen Hanes & Co. Inc. Sells 5,785 Shares of Accenture PLC $ACN

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Bowen Hanes & Co. Inc. lessened its holdings in Accenture PLC (NYSE:ACN - Free Report) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,376 shares of the information technology services provider's stock after selling 5,785 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Accenture were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ACN. Credit Agricole S A boosted its stake in shares of Accenture by 0.5% during the 1st quarter. Credit Agricole S A now owns 484,830 shares of the information technology services provider's stock valued at $151,286,000 after purchasing an additional 2,269 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Accenture by 36.9% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,848 shares of the information technology services provider's stock valued at $1,825,000 after purchasing an additional 1,577 shares in the last quarter. Colonial Trust Advisors boosted its stake in Accenture by 1.6% during the first quarter. Colonial Trust Advisors now owns 40,796 shares of the information technology services provider's stock worth $12,730,000 after acquiring an additional 629 shares in the last quarter. Cornerstone Select Advisors LLC boosted its stake in Accenture by 53.0% during the first quarter. Cornerstone Select Advisors LLC now owns 976 shares of the information technology services provider's stock worth $305,000 after acquiring an additional 338 shares in the last quarter. Finally, Sand Hill Global Advisors LLC boosted its stake in Accenture by 0.6% during the first quarter. Sand Hill Global Advisors LLC now owns 19,862 shares of the information technology services provider's stock worth $6,198,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 203 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mauro Macchi sold 500 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the sale, the chief executive officer directly owned 2,283 shares of the company's stock, valued at approximately $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,954 shares of company stock worth $834,280 in the last three months. Company insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Guggenheim dropped their price objective on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Morgan Stanley reduced their price objective 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. Mizuho set a $348.00 price objective on shares of Accenture and gave the company an "outperform" rating in a research report on Tuesday, June 24th. HSBC assumed coverage on shares of Accenture in a report on Monday, July 28th. They issued a "reduce" rating and a $240.00 target price for the company. Finally, Argus set a $370.00 target price on shares of Accenture in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $360.21.

Accenture Stock Up 0.9%

ACN stock opened at $249.11 on Tuesday. The firm has a 50 day moving average of $282.57 and a 200 day moving average of $309.73. The stock has a market capitalization of $156.03 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. 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 52 week low of $236.67 and a 52 week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business 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 business posted $3.13 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 10th. Accenture's payout ratio is currently 47.13%.

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.

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