Accenture PLC (NYSE:ACN) Stake Lessened by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC reduced its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,781 shares of the information technology services provider's stock after selling 1,841 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in Accenture were worth $10,541,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ACN. Visionary Wealth Advisors grew its holdings in Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after purchasing an additional 26 shares in the last quarter. Vivaldi Capital Management LP grew its stake in shares of Accenture by 3.6% during the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after acquiring an additional 27 shares in the last quarter. Nemes Rush Group LLC increased its position in shares of Accenture by 7.5% during the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock worth $147,000 after acquiring an additional 29 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in shares of Accenture by 0.3% in the fourth quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider's stock worth $3,863,000 after acquiring an additional 30 shares in the last quarter. Finally, Sentinus LLC boosted its holdings in Accenture by 4.2% in the fourth 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. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Price Performance

ACN traded up $3.65 during trading on Wednesday, reaching $279.72. The stock had a trading volume of 3,176,294 shares, compared to its average volume of 2,924,600. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35. The firm has a market capitalization of $175.20 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29. The stock has a 50 day moving average of $307.35 and a two-hundred day moving average of $325.69. 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 (NYSE:ACN - Get Free Report) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating 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 business had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter last year, the business posted $3.13 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.12%. Accenture's payout ratio is currently 47.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACN shares. Piper Sandler cut their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. 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. Royal Bank Of Canada reduced their price objective on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Guggenheim dropped their price target on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. Finally, BMO Capital Markets cut their target price on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a report on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Accenture currently has an average rating of "Moderate Buy" and a consensus target price of $370.71.

Insider Buying and Selling at Accenture

In other news, CEO Mauro Macchi sold 500 shares of the company'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 $644,582.22. This represents a 17.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 203 shares of the business's stock in a transaction dated Friday, July 11th. The stock was 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 in the company, valued at approximately $1,482,002.66. The trade was a 3.72% 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 in the last ninety days. Company insiders own 0.02% of the company's stock.

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.