Oppenheimer & Co. Inc. Buys 957 Shares of Accenture PLC (NYSE:ACN)

Oppenheimer & Co. Inc. grew its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,689 shares of the information technology services provider's stock after buying an additional 957 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Accenture were worth $23,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of Accenture by 16.8% during the 4th 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 buying an additional 1,770,024 shares in the last quarter. Alteri Wealth LLC bought a new stake in shares of Accenture during the 4th quarter worth about $321,000. Proficio Capital Partners LLC raised its position in shares of 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 in the last quarter. Exchange Traded Concepts LLC raised its position in shares of 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 in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Accenture during the 4th quarter worth about $317,000. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Up 1.9%

Shares of Accenture stock traded up $5.66 during trading on Tuesday, hitting $300.66. The stock had a trading volume of 4,940,464 shares, compared to its average volume of 2,942,337. The stock has a 50 day simple moving average of $307.33 and a 200 day simple moving average of $332.81. The company has a market capitalization of $188.31 billion, a PE ratio of 23.94, a P/E/G ratio of 2.94 and a beta of 1.33. 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 1 year low of $273.19 and a 1 year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the firm posted $3.13 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, July 10th. Accenture's dividend payout ratio is 47.13%.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 3,563 shares of the 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 completion of the transaction, the general counsel now owns 17,237 shares in the company, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 169 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the sale, the insider now directly owns 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. Over the last three months, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

ACN has been the topic of a number of recent analyst reports. Benchmark restated a "mixed" rating on shares of Accenture in a research report on Friday. Barclays dropped their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday. BMO Capital Markets dropped their target price on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a report on Monday. Morgan Stanley dropped 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. Finally, Piper Sandler dropped their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Seven equities research 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 data from MarketBeat, Accenture currently has an average rating of "Moderate Buy" and an average target price of $370.75.

Accenture Company 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.