Tritonpoint Wealth LLC Sells 36,354 Shares of Accenture plc (NYSE:ACN)

Tritonpoint Wealth LLC lowered its position in shares of Accenture plc (NYSE:ACN - Free Report) by 86.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,870 shares of the information technology services provider's stock after selling 36,354 shares during the quarter. Tritonpoint Wealth LLC's holdings in Accenture were worth $1,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Visionary Wealth Advisors lifted its holdings in shares of Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock worth $274,000 after acquiring an additional 26 shares during the period. Vivaldi Capital Management LP lifted its stake in Accenture by 3.6% during the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock worth $292,000 after purchasing an additional 27 shares during the last quarter. FPC Investment Advisory Inc. increased its stake in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. New England Professional Planning Group Inc. lifted its position in shares of Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock worth $230,000 after buying an additional 29 shares during the last quarter. Finally, Nemes Rush Group LLC grew its position in Accenture by 7.5% in the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock valued at $147,000 after acquiring an additional 29 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction dated 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 sale, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 169 shares of the firm'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 sale, the insider now owns 5,364 shares of the company's stock, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,516 shares of company stock valued at $2,507,366. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACN. Morgan Stanley reduced their price target on shares of Accenture from $372.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Thursday. Mizuho dropped their price target on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a research note on Wednesday, March 19th. BMO Capital Markets upped their target price on Accenture to $355.00 and gave the stock a "hold" rating in a report on Wednesday, March 26th. Wall Street Zen lowered Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Finally, Guggenheim lowered their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Seven 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. Based on data from MarketBeat.com, Accenture presently has an average rating of "Moderate Buy" and a consensus price target of $382.15.

Accenture Stock Down 2.1%

Shares of ACN stock traded down $6.76 on Friday, reaching $311.37. 3,102,635 shares of the company were exchanged, compared to its average volume of 2,958,031. Accenture plc has a one year low of $275.01 and a one year high of $398.35. The company has a market cap of $195.02 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.23 and a beta of 1.33. The company has a 50-day moving average of $305.50 and a 200-day moving average of $335.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.77 earnings per share. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, April 10th. Accenture's dividend payout ratio (DPR) 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.