Generali Investments Towarzystwo Funduszy Inwestycyjnych Sells 1,232 Shares of Accenture PLC (NYSE:ACN)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych has decreased its holdings in Accenture PLC by 24.7%, selling 1,232 shares and now owning 3,750 shares valued at approximately $1,170,000.
• Accenture reported earnings of $3.49 per share for the latest quarter, exceeding analysts' expectations, with revenue reaching $17.73 billion, a 7.7% increase from the prior year.
• The company announced a quarterly dividend of $1.48 per share, with a dividend yield of 2.3%, to be paid on August 15th.

Generali Investments Towarzystwo Funduszy Inwestycyjnych lowered its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 24.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,750 shares of the information technology services provider's stock after selling 1,232 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Accenture were worth $1,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Visionary Wealth Advisors boosted its position in shares of Accenture by 3.5% during the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock worth $274,000 after buying an additional 26 shares during the period. Vivaldi Capital Management LP boosted its position in 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 purchasing an additional 27 shares during the last quarter. Tradition Wealth Management LLC boosted its position in Accenture by 0.3% during the fourth quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider's stock valued at $3,863,000 after purchasing an additional 30 shares during the last quarter. Sentinus LLC boosted its position in Accenture by 4.2% during 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. Finally, Stonebrook Private Inc. boosted its position in Accenture by 3.1% during the fourth quarter. Stonebrook Private Inc. now owns 1,103 shares of the information technology services provider's stock valued at $388,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Accenture Trading Down 4.5%

Shares of ACN stock opened at $255.18 on Friday. The stock's fifty day moving average price is $297.98 and its two-hundred day moving average price is $319.33. The company has a market cap of $159.83 billion, a PE ratio of 20.32, a P/E/G ratio of 2.32 and a beta of 1.29. Accenture PLC has a fifty-two week low of $254.20 and a fifty-two week 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.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.13 EPS. Equities analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio (DPR) is currently 47.13%.

Insider Transactions at Accenture

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. HSBC assumed coverage on Accenture in a research report on Monday, July 28th. They set a "reduce" rating and a $240.00 price target for the company. Piper Sandler reduced their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Mizuho set a $348.00 price objective on Accenture and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Finally, Morgan Stanley cut their price objective on Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $360.21.

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.

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