GFG Capital LLC cut its holdings in Accenture PLC (NYSE:ACN - Free Report) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,515 shares of the information technology services provider's stock after selling 1,570 shares during the quarter. GFG Capital LLC's holdings in Accenture were worth $2,345,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors boosted its position in Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares during the last quarter. Alteri Wealth LLC purchased a new position in shares of Accenture in the 4th quarter valued at $321,000. Proficio Capital Partners LLC increased its stake in Accenture by 47.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock worth $861,000 after buying an additional 789 shares during the period. Exchange Traded Concepts LLC increased its stake in Accenture by 62.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock worth $282,000 after buying an additional 347 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Accenture during the 4th quarter worth $317,000. Institutional investors and hedge funds own 75.14% of the company's stock.
Accenture Stock Down 2.5%
Shares of NYSE:ACN traded down $7.45 during trading on Thursday, reaching $288.47. 2,639,979 shares of the company traded hands, compared to its average volume of 2,904,113. The firm has a fifty day simple moving average of $309.75 and a 200 day simple moving average of $328.40. The firm has a market cap of $180.68 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.84 and a beta of 1.29. Accenture PLC has a 1-year low of $273.19 and a 1-year 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.
Accenture (NYSE:ACN - Get Free Report) last released its quarterly 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 business had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.13 EPS. Analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.
Accenture Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 2.05%. Accenture's dividend payout ratio (DPR) is presently 47.13%.
Insider Activity
In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the sale, the general counsel directly owned 17,237 shares in the company, valued at $4,857,041.86. This trade represents a 17.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the chief operating officer owned 15,882 shares in the company, valued at $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. Benchmark reissued a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price for the company in a research note on Monday, March 17th. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Barclays decreased their price objective on shares of 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $370.71.
View Our Latest Stock Report on ACN
Accenture Company Profile
(
Free Report)
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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