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Accenture Plc (NYSE:ACN) CFO Sells $238,668.75 in Stock

Posted on Tuesday, June 30th, 2020 by MarketBeat

Accenture Plc (NYSE:ACN) CFO Kathleen R. Mcclure sold 1,125 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $212.15, for a total transaction of $238,668.75. Following the transaction, the chief financial officer now directly owns 23,274 shares in the company, valued at $4,937,579.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of ACN stock traded up $1.60 during trading hours on Tuesday, hitting $214.32. 738,710 shares of the company's stock were exchanged, compared to its average volume of 2,506,215. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.17. The firm has a market cap of $135.06 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.78 and a beta of 1.06. The firm has a 50 day moving average of $199.62 and a two-hundred day moving average of $193.06. Accenture Plc has a fifty-two week low of $137.15 and a fifty-two week high of $217.89.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 25th. The information technology services provider reported $1.90 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.84 by $0.06. Accenture had a return on equity of 32.04% and a net margin of 11.11%. The business had revenue of $10.99 billion during the quarter, compared to the consensus estimate of $10.89 billion. During the same period in the prior year, the company posted $1.93 EPS. The business's quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that Accenture Plc will post 7.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Thursday, July 16th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, July 15th. Accenture's payout ratio is 43.48%.

A number of brokerages have issued reports on ACN. Wolfe Research boosted their price objective on shares of Accenture from $165.00 to $220.00 and gave the company a "peer perform" rating in a research report on Friday. Robert W. Baird boosted their price objective on shares of Accenture from $216.00 to $222.00 and gave the company a "neutral" rating in a research report on Friday. UBS Group boosted their price objective on shares of Accenture from $160.00 to $215.00 and gave the company a "neutral" rating in a research report on Friday. Wells Fargo & Co downgraded shares of Accenture from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $190.00 to $200.00 in a research report on Thursday, June 18th. They noted that the move was a valuation call. Finally, Wedbush reissued an "outperform" rating on shares of Accenture in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company's stock. The company has an average rating of "Buy" and a consensus price target of $219.44.

Institutional investors and hedge funds have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. purchased a new stake in shares of Accenture during the fourth quarter worth approximately $26,000. Islay Capital Management LLC purchased a new stake in Accenture in the 4th quarter valued at $31,000. Mark Sheptoff Financial Planning LLC grew its holdings in Accenture by 200.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 150 shares of the information technology services provider's stock valued at $32,000 after buying an additional 100 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Accenture in the 4th quarter valued at $34,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Accenture in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 73.64% of the company's stock.

About Accenture

Accenture plc provides consulting, technology, and outsourcing services in Ireland and internationally. Its Communications, Media & Technology segment provides professional services that help clients accelerate and deliver digital transformation, develop industry-specific solutions, and enhance efficiencies and business results for communications, media, high tech, software, and platform companies.

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Insider Buying and Selling by Quarter for Accenture (NYSE:ACN)

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