Wealth Advisory Solutions LLC Sells 2,091 Shares of Accenture PLC (NYSE:ACN)

Wealth Advisory Solutions LLC lessened its position in Accenture PLC (NYSE:ACN - Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,993 shares of the information technology services provider's stock after selling 2,091 shares during the period. Accenture makes up 1.2% of Wealth Advisory Solutions LLC's portfolio, making the stock its 21st biggest position. Wealth Advisory Solutions LLC's holdings in Accenture were worth $4,366,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Capital Research Global Investors increased its stake in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after buying an additional 1,770,024 shares during the period. Alteri Wealth LLC acquired a new position in Accenture during the 4th quarter valued at about $321,000. Proficio Capital Partners LLC increased its stake in Accenture by 47.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock valued at $861,000 after buying an additional 789 shares during the period. Exchange Traded Concepts LLC increased its stake in Accenture by 62.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock valued at $282,000 after buying an additional 347 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Accenture during the 4th quarter valued at about $317,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ACN shares. 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 research note on Monday, June 23rd. Argus set a $370.00 price objective on shares of Accenture in a research note on Tuesday, June 24th. BMO Capital Markets lowered their price objective on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research note on Monday, June 23rd. Guggenheim lowered their price objective on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Finally, UBS Group reaffirmed a "buy" rating and issued a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Seven research 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 stock. Based on data from MarketBeat.com, Accenture has a consensus rating of "Moderate Buy" and a consensus price target of $370.71.

Accenture Stock Down 2.5%

Shares of ACN stock traded down $7.35 during trading on Friday, hitting $281.01. 5,075,765 shares of the company were exchanged, compared to its average volume of 2,920,596. 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 firm has a market capitalization of $176.00 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.64 and a beta of 1.29. The business's 50-day simple moving average is $309.00 and its 200 day simple moving average is $327.12. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $3.13 earnings per share. As a group, analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

Insiders Place Their Bets

In related news, COO John F. Walsh sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the transaction, the chief operating officer owned 15,882 shares of the company's stock, valued at approximately $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.02% of the company's stock.

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.