Sienna Gestion cut its stake in Accenture PLC (NYSE:ACN - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,610 shares of the information technology services provider's stock after selling 6,614 shares during the period. Accenture comprises approximately 1.6% of Sienna Gestion's portfolio, making the stock its 10th largest position. Sienna Gestion's holdings in Accenture were worth $18,991,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture during the 4th quarter valued at $30,000. Park Square Financial Group LLC acquired a new position in Accenture during the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new position in Accenture during the fourth quarter worth $34,000. Inlight Wealth Management LLC bought a new stake in Accenture during the first quarter worth $32,000. Finally, Navigoe LLC bought a new position in Accenture during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 75.14% of the company's stock.
Accenture Trading Up 0.4%
Shares of NYSE ACN traded up $0.88 during midday trading on Friday, reaching $247.04. 4,223,359 shares of the stock were exchanged, compared to its average volume of 4,754,784. The stock has a 50 day moving average price of $283.92 and a 200-day moving average price of $311.17. Accenture PLC has a 52-week low of $236.67 and a 52-week high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $154.73 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.25 and a beta of 1.29.
Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.13 earnings per share. Equities research analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.
Accenture Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 10th were given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 10th. Accenture's payout ratio is currently 47.13%.
Insider Transactions at Accenture
In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the company's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the sale, the chief executive officer directly owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. This represents a 21.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mauro Macchi sold 500 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the sale, the chief executive officer owned 2,283 shares of the company's stock, valued at $644,582.22. This represents a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,954 shares of company stock valued at $834,280 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ACN. Benchmark reissued a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Mizuho set a $348.00 price objective on Accenture and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Barclays cut their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday, June 23rd. UBS Group reaffirmed a "buy" rating and issued a $395.00 price target (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Finally, Hsbc Global Res raised Accenture to a "moderate sell" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $360.21.
View Our Latest Research Report on ACN
Accenture Profile
(
Free Report)
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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