Rossby Financial LCC Buys 1,002 Shares of Accenture PLC (NYSE:ACN)

Rossby Financial LCC increased its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 174.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,576 shares of the information technology services provider's stock after purchasing an additional 1,002 shares during the period. Rossby Financial LCC's holdings in Accenture were worth $462,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ACN. Brighton Jones LLC lifted its holdings in shares of Accenture by 36.2% during the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after acquiring an additional 4,905 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Accenture during the 4th quarter valued at about $350,000. Fisher Asset Management LLC boosted its position in Accenture by 81.4% in the fourth quarter. Fisher Asset Management LLC now owns 4,955 shares of the information technology services provider's stock valued at $1,743,000 after buying an additional 2,224 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the fourth quarter worth approximately $30,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Accenture in the fourth quarter valued at approximately $99,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer owned 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 owned 17,237 shares of the company's stock, valued at $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 in the last quarter. Insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ACN. Morgan Stanley decreased their target price on Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Robert W. Baird upgraded shares of 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. Benchmark reissued a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their price objective on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Accenture Stock Down 0.2%

NYSE ACN traded down $0.62 during trading on Wednesday, hitting $302.00. The stock had a trading volume of 2,748,416 shares, compared to its average volume of 2,899,839. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The company's 50-day moving average price is $308.79 and its two-hundred day moving average price is $330.60. The company has a market capitalization of $189.15 billion, a PE ratio of 24.04, a P/E/G ratio of 2.93 and a beta of 1.30.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.32 by $0.17. The business had revenue of $17.73 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.13 earnings per share. As a group, sell-side analysts forecast that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.96%. Accenture's payout ratio is 47.13%.

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.