Cyndeo Wealth Partners LLC Trims Stake in Accenture plc (NYSE:ACN)

Cyndeo Wealth Partners LLC decreased its stake in Accenture plc (NYSE:ACN - Free Report) by 28.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,184 shares of the information technology services provider's stock after selling 8,134 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Accenture were worth $6,298,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. raised its position in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture during the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Accenture in the fourth quarter valued at about $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture during the fourth quarter worth about $31,000. Finally, Promus Capital LLC bought a new stake in Accenture during the 4th quarter valued at approximately $34,000. Institutional investors own 75.14% of the company's stock.

Accenture Stock Up 0.8%

NYSE ACN traded up $2.41 during trading on Monday, reaching $314.12. 2,929,569 shares of the company's stock were exchanged, compared to its average volume of 2,957,915. The company has a 50 day moving average price of $305.50 and a two-hundred day moving average price of $335.40. The stock has a market cap of $196.74 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. Accenture plc has a 1 year low of $275.01 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The firm's revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.88%. Accenture's dividend payout ratio is presently 48.89%.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 169 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now owns 5,364 shares of the company's stock, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,516 shares of company stock valued at $2,507,366. 0.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACN shares. UBS Group reaffirmed a "buy" rating and set a $395.00 price objective (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Barclays reduced their price target on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a report on Monday. BMO Capital Markets lifted their target price on Accenture to $355.00 and gave the stock a "hold" rating in a report on Wednesday, March 26th. Finally, Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Seven 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 company's stock. According to data from MarketBeat, Accenture currently has a consensus rating of "Moderate Buy" and an average target price of $380.00.

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.