PFG Investments LLC Sells 966 Shares of Accenture PLC (NYSE:ACN)

PFG Investments LLC trimmed its position in Accenture PLC (NYSE:ACN - Free Report) by 26.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,659 shares of the information technology services provider's stock after selling 966 shares during the quarter. PFG Investments LLC's holdings in Accenture were worth $830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. raised its stake in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Accenture in the 4th quarter valued at $30,000. Mpwm Advisory Solutions LLC bought a new stake in Accenture in the 4th quarter valued at $30,000. Park Square Financial Group LLC bought a new position in shares of Accenture in the fourth quarter valued at about $31,000. Finally, Promus Capital LLC bought a new position in shares of Accenture in the fourth quarter valued at about $34,000. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACN has been the topic of several research analyst reports. Mizuho lowered their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a report on Wednesday, March 19th. Baird R W upgraded Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. increased their target price on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Guggenheim lowered their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, BMO Capital Markets increased their price objective on Accenture to $355.00 and gave the stock a "hold" rating in a research report on Wednesday, March 26th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $380.00.

Insider Buying and Selling

In other news, insider Angela Beatty sold 169 shares of the company's stock in a transaction 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 directly owns 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock valued at $2,507,366 over the last 90 days. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

Shares of NYSE:ACN opened at $285.66 on Monday. The company's 50 day simple moving average is $306.98 and its 200 day simple moving average is $333.51. The stock has a market capitalization of $178.92 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.85 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. 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 issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $17.26 billion. During the same quarter last year, the company posted $3.13 EPS. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

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 issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.07%. Accenture's payout ratio is 48.89%.

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.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture PLC (NYSE:ACN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.