GFG Capital LLC Sells 1,570 Shares of Accenture PLC (NYSE:ACN)

GFG Capital LLC cut its stake in Accenture PLC (NYSE:ACN - Free Report) by 17.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,515 shares of the information technology services provider's stock after selling 1,570 shares during the period. GFG Capital LLC's holdings in Accenture were worth $2,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Accenture by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock valued at $21,246,236,000 after purchasing an additional 392,183 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Accenture by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after purchasing an additional 136,665 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of 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 valued at $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Accenture by 2.2% during the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock valued at $2,994,922,000 after purchasing an additional 181,449 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 in the company, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Argus set a $370.00 price objective on shares of Accenture in a report on Tuesday, June 24th. Finally, Benchmark restated a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $370.71.

Accenture Stock Performance

NYSE ACN traded down $7.35 on Friday, reaching $281.01. 5,075,765 shares of the stock were exchanged, compared to its average volume of 2,924,704. Accenture PLC has a one year low of $273.19 and a one year high of $398.35. The firm has a market capitalization of $176.00 billion, a PE ratio of 22.37, a PEG ratio of 2.71 and a beta of 1.29. The company's 50-day simple moving average is $309.00 and its two-hundred day simple moving average is $327.36. The company has a current ratio of 1.46, a quick 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 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.13 EPS. Analysts expect 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 will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is currently 47.13%.

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.