Accenture plc (NYSE:ACN) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,754 shares of the information technology services provider's stock after selling 2,489 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Accenture were worth $39,210,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ACN. Wellington Management Group LLP raised its stake in Accenture by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider's stock valued at $3,388,856,000 after acquiring an additional 720,647 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Accenture by 34.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,374,492 shares of the information technology services provider's stock worth $729,230,000 after buying an additional 611,376 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its stake in shares of Accenture by 71.4% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,388,701 shares of the information technology services provider's stock worth $487,309,000 after buying an additional 578,610 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Accenture by 33,484.1% in the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider's stock worth $199,167,000 after buying an additional 565,882 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider's stock worth $4,089,485,000 after buying an additional 565,505 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the business's stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.81, for a total transaction of $1,859,050.00. Following the completion of the transaction, the insider now owns 20,316 shares of the company's stock, valued at approximately $7,553,691.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 851 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the completion of the transaction, the chief financial officer now owns 50,737 shares of the company's stock, valued at approximately $18,862,494.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the company's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.81, for a total value of $1,859,050.00. Following the completion of the transaction, the insider now directly owns 20,316 shares of the company's stock, valued at approximately $7,553,691.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,833 shares of company stock valued at $13,645,871. Insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ACN. BMO Capital Markets dropped their price objective on Accenture from $385.00 to $375.00 and set a "market perform" rating on the stock in a research note on Friday, March 22nd. Robert W. Baird boosted their price objective on Accenture from $364.00 to $375.00 and gave the stock a "neutral" rating in a research note on Thursday, March 7th. Royal Bank of Canada lifted their target price on Accenture from $374.00 to $381.00 and gave the stock an "outperform" rating in a report on Friday, March 22nd. Bank of America lifted their target price on Accenture from $379.00 to $419.00 and gave the stock a "buy" rating in a report on Thursday, March 7th. Finally, Guggenheim initiated coverage on Accenture in a report on Tuesday, March 19th. They issued a "buy" rating and a $425.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Accenture has an average rating of "Moderate Buy" and an average price target of $387.00.

Accenture Stock Up 0.2 %

Shares of NYSE:ACN traded up $0.71 on Monday, reaching $317.59. The company had a trading volume of 2,433,300 shares, compared to its average volume of 2,391,084. Accenture plc has a twelve month low of $261.68 and a twelve month high of $387.51. The stock has a 50-day moving average price of $354.21 and a 200 day moving average price of $342.37. The stock has a market capitalization of $213.02 billion, a P/E ratio of 28.79, a P/E/G ratio of 3.00 and a beta of 1.19.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion during the quarter, compared to analysts' expectations of $15.85 billion. During the same quarter in the previous year, the firm earned $2.69 earnings per share. The business's quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.62%. Accenture's dividend payout ratio is presently 46.78%.

Accenture Company 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.

Want to see what other hedge funds are holding ACN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accenture plc (NYSE:ACN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.