Coleford Investment Management Ltd. Has $13.39 Million Stock Position in Accenture PLC (NYSE:ACN)

Coleford Investment Management Ltd. reduced its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,925 shares of the information technology services provider's stock after selling 930 shares during the period. Accenture accounts for approximately 3.8% of Coleford Investment Management Ltd.'s portfolio, making the stock its 16th biggest holding. Coleford Investment Management Ltd.'s holdings in Accenture were worth $13,394,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer owned 8,109 shares in the company, valued at $2,290,387.05. This represents a 21.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,454 shares of company stock worth $1,646,780 in the last 90 days. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACN. Barclays lowered their price target on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research note on Monday, June 23rd. Piper Sandler decreased their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Evercore ISI began coverage on Accenture in a report on Thursday. They set an "outperform" rating and a $330.00 price objective on the stock. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Finally, Guggenheim decreased their price objective on Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $365.43.

Accenture Trading Up 0.4%

NYSE:ACN traded up $1.05 during trading hours on Monday, hitting $283.49. 576,124 shares of the stock were exchanged, compared to its average volume of 2,900,689. The company's 50 day moving average is $306.32 and its two-hundred day moving average is $324.37. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $177.56 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last issued its 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. The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.13 EPS. On average, sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio is currently 47.13%.

Accenture Company 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.