Concurrent Investment Advisors LLC Has $11.97 Million Position in Accenture PLC (NYSE:ACN)

Concurrent Investment Advisors LLC trimmed its stake in Accenture PLC (NYSE:ACN - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,357 shares of the information technology services provider's stock after selling 1,813 shares during the period. Concurrent Investment Advisors LLC's holdings in Accenture were worth $11,969,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Mpwm Advisory Solutions LLC bought a new stake in shares of Accenture during the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC bought a new position in Accenture in the 4th quarter valued at $31,000. Promus Capital LLC bought a new position in Accenture in the 4th quarter valued at $34,000. Capital A Wealth Management LLC bought a new stake in shares of Accenture during the fourth quarter worth $34,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Accenture during the fourth quarter worth $35,000. 75.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ACN shares. Wall Street Zen downgraded Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Mizuho set a $348.00 price objective on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Guggenheim decreased their price objective on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Robert W. Baird raised Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research note on Monday, March 17th. Finally, UBS Group reaffirmed a "buy" rating and set a $395.00 price objective (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Accenture currently has an average rating of "Moderate Buy" and an average price target of $370.71.

Accenture Stock Up 0.8%

NYSE ACN traded up $2.29 during trading hours on Friday, hitting $304.58. 1,616,133 shares of the company traded hands, compared to its average volume of 2,901,159. The business's 50-day moving average is $309.55 and its 200-day moving average is $329.68. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $190.76 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 2.86 and a beta of 1.29.

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. Sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 1.94%. Accenture's dividend payout ratio is 47.13%.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the transaction, the general counsel owned 17,237 shares in the company, valued at approximately $4,857,041.86. This trade represents a 17.13% 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, insider Angela Beatty sold 169 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider owned 5,364 shares in the company, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock worth $2,507,366 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

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.