GFG Capital LLC Has $2.35 Million Position in Accenture PLC (NYSE:ACN)

GFG Capital LLC reduced its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC grew its position in shares of Accenture by 3.7% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 5,820 shares of the information technology services provider's stock worth $1,816,000 after acquiring an additional 210 shares in the last quarter. Greenleaf Trust raised its stake in Accenture by 2.0% during the first quarter. Greenleaf Trust now owns 24,756 shares of the information technology services provider's stock worth $7,725,000 after acquiring an additional 488 shares during the period. Flossbach Von Storch SE boosted its stake in Accenture by 8.2% in the first quarter. Flossbach Von Storch SE now owns 1,627,589 shares of the information technology services provider's stock valued at $507,873,000 after acquiring an additional 123,104 shares during the period. AlphaStar Capital Management LLC boosted its stake in Accenture by 11.8% in the first quarter. AlphaStar Capital Management LLC now owns 665 shares of the information technology services provider's stock valued at $208,000 after acquiring an additional 70 shares during the period. Finally, Valeo Financial Advisors LLC boosted its stake in Accenture by 1.9% in the first quarter. Valeo Financial Advisors LLC now owns 8,191 shares of the information technology services provider's stock valued at $2,556,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Stock Performance

Shares of ACN traded down $6.06 during trading hours on Wednesday, reaching $297.27. 3,177,356 shares of the company traded hands, compared to its average volume of 2,903,000. The stock's fifty day moving average is $309.78 and its 200 day moving average is $328.62. The stock has a market cap of $186.19 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.82 and a beta of 1.29. 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 PLC has a 1-year low of $273.19 and a 1-year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly 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 net margin of 11.61% and a return on equity of 26.55%. The firm had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the business posted $3.13 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is 47.13%.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the firm'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 transaction of $1,003,982.14. Following the sale, the general counsel directly owned 17,237 shares of the company's stock, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,516 shares of company stock worth $2,507,366. Corporate insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

ACN has been the subject of a number of research reports. Benchmark restated a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. UBS Group restated a "buy" rating and issued a $395.00 target price (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. 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 research note on Monday, June 23rd. Robert W. Baird upgraded Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research report on Monday, March 17th. Finally, Baird R W raised Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. 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's stock. According to data from MarketBeat, Accenture has an average rating of "Moderate Buy" and a consensus target price of $370.71.

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.