Valley Wealth Managers Inc. Sells 1,010 Shares of Accenture PLC (NYSE:ACN)

Key Points

• Valley Wealth Managers Inc. reduced its stake in Accenture PLC by 1.8%, selling 1,010 shares and now holding 56,565 shares worth approximately $17.65 million.
• Insider trading included CEO Julie Spellman Sweet selling 2,251 shares for nearly $636,000, leading to a 21.73% decrease in her ownership.
• Accenture reported a strong quarterly performance with a 7.7% year-over-year revenue growth and earnings per share of $3.49, surpassing the consensus estimate of $3.32.

Valley Wealth Managers Inc. lessened its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,565 shares of the information technology services provider's stock after selling 1,010 shares during the period. Valley Wealth Managers Inc.'s holdings in Accenture were worth $17,651,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bearing Point Capital LLC lifted its stake in Accenture by 2.8% in the first quarter. Bearing Point Capital LLC now owns 22,370 shares of the information technology services provider's stock valued at $6,980,000 after buying an additional 618 shares in the last quarter. Security Financial Services INC. raised its holdings in shares of Accenture by 8.1% during the first quarter. Security Financial Services INC. now owns 2,714 shares of the information technology services provider's stock worth $847,000 after acquiring an additional 203 shares during the period. FourThought Financial Partners LLC lifted its position in Accenture by 0.5% in the 1st quarter. FourThought Financial Partners LLC now owns 28,574 shares of the information technology services provider's stock valued at $8,916,000 after acquiring an additional 143 shares in the last quarter. Motco boosted its stake in Accenture by 1.9% in the 1st quarter. Motco now owns 29,594 shares of the information technology services provider's stock worth $9,235,000 after purchasing an additional 546 shares during the period. Finally, Integrated Investment Consultants LLC boosted its stake in Accenture by 40.7% in the 1st quarter. Integrated Investment Consultants LLC now owns 4,881 shares of the information technology services provider's stock worth $1,523,000 after purchasing an additional 1,413 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela Beatty sold 203 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider owned 5,249 shares of the company's stock, valued at $1,482,002.66. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock valued at $1,646,780 in the last 90 days. Insiders own 0.02% of the company's stock.

Accenture Stock Performance

ACN opened at $283.10 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 12-month low of $273.19 and a 12-month high of $398.35. The business has a 50 day moving average of $302.60 and a 200-day moving average of $322.37. The stock has a market cap of $177.31 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.67 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 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 business had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter last year, the firm posted $3.13 EPS. The company's quarterly revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.09%. Accenture's dividend payout ratio (DPR) is currently 47.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACN. Argus set a $370.00 price target on Accenture in a report on Tuesday, June 24th. Morgan Stanley cut their target price on Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. Guggenheim decreased their price target on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Barclays lowered their price objective on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday, June 23rd. Finally, BMO Capital Markets reduced their target price on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a report on Monday, June 23rd. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $365.43.

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.

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