Capital Advisors Inc. OK Sells 32,360 Shares of Accenture PLC (NYSE:ACN)

Capital Advisors Inc. OK lowered its holdings in Accenture PLC (NYSE:ACN - Free Report) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 245,493 shares of the information technology services provider's stock after selling 32,360 shares during the quarter. Accenture comprises about 1.5% of Capital Advisors Inc. OK's investment portfolio, making the stock its 16th largest position. Capital Advisors Inc. OK's holdings in Accenture were worth $76,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mpwm Advisory Solutions LLC acquired a new position in shares of Accenture during the fourth quarter valued at $30,000. Park Square Financial Group LLC acquired a new position in shares of Accenture during the fourth quarter valued at $31,000. Inlight Wealth Management LLC acquired a new position in shares of Accenture during the first quarter valued at $32,000. Capital A Wealth Management LLC acquired a new position in shares of Accenture during the fourth quarter valued at $34,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Accenture during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Analysts Set New Price Targets

ACN has been the topic of several research reports. Guggenheim cut their price target on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Royal Bank Of Canada dropped their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. upped their price objective on Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Argus set a $370.00 price objective on Accenture in a report on Tuesday, June 24th. Finally, Barclays dropped their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a report on Monday, June 23rd. 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Insider Transactions at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the stock in a transaction that occurred 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 approximately $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the sale, the general counsel directly owned 17,237 shares of the company's stock, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Up 0.9%

Shares of ACN stock traded up $2.73 on Tuesday, hitting $303.27. 2,889,749 shares of the stock were exchanged, compared to its average volume of 2,901,898. 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 firm has a market capitalization of $189.95 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.86 and a beta of 1.29. The business has a 50-day moving average of $309.69 and a 200 day moving average of $328.80. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results 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 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 prior year, the firm posted $3.13 earnings per share. The business's quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 1.95%. Accenture's dividend payout ratio is currently 47.13%.

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.