Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Stock Position in Accenture PLC (NYSE:ACN)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,405 shares of the information technology services provider's stock after selling 1,924 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Accenture were worth $28,933,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ACN. Kohmann Bosshard Financial Services LLC purchased a new stake in Accenture during the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture during the fourth quarter worth approximately $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Accenture during the first quarter worth $32,000. Finally, Promus Capital LLC purchased a new position in Accenture in the 4th quarter valued at $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday. Argus set a $370.00 price objective on Accenture in a report on Tuesday. Guggenheim cut their target price on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday. 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, Barclays lowered their price target on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $370.71.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction dated 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 now directly owns 17,237 shares of the company's stock, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The sale was disclosed in a legal 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 sale, the insider now owns 5,364 shares in the company, valued at $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 valued at $2,507,366 over the last 90 days. Corporate insiders own 0.02% of the company's stock.

Accenture Stock Performance

NYSE ACN opened at $296.03 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The business has a fifty day moving average of $307.78 and a 200-day moving average of $332.11. The stock has a market cap of $185.41 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.89 and a beta of 1.33.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.13 EPS. As a group, analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.00%. Accenture's dividend 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.

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