GFG Capital LLC Lowers Stock Holdings in Accenture PLC (NYSE:ACN)

GFG Capital LLC lessened its position in Accenture PLC (NYSE:ACN - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC acquired a new stake in Accenture during the fourth quarter worth $31,000. Inlight Wealth Management LLC acquired a new stake in Accenture during the first quarter worth $32,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the fourth quarter worth $34,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Accenture during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

Shares of ACN stock opened at $303.27 on Wednesday. The stock has a market capitalization of $189.95 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.29. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The stock's 50-day moving average price is $309.78 and its 200 day moving average price is $328.62. 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 earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter in the previous year, the firm posted $3.13 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio (DPR) is 47.13%.

Wall Street Analysts Forecast Growth

ACN has been the subject of several research analyst reports. Robert W. Baird upgraded Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price target for the company in a research report on Monday, March 17th. Piper Sandler decreased their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. BMO Capital Markets decreased their target price on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a report on Monday, June 23rd. UBS Group reaffirmed a "buy" rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Accenture presently has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Insider Transactions at Accenture

In related news, General Counsel Joel Unruch sold 3,563 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the sale, the general counsel owned 17,237 shares of the company's stock, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 169 shares of the company's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider directly owned 5,364 shares in the company, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 over the last quarter. Insiders own 0.02% of the company's stock.

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.

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