Pathstone Holdings LLC Reduces Stock Position in Accenture plc (NYSE:ACN)

Pathstone Holdings LLC cut its holdings in shares of Accenture plc (NYSE:ACN - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 93,807 shares of the information technology services provider's stock after selling 1,059 shares during the period. Pathstone Holdings LLC's holdings in Accenture were worth $32,998,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Baldwin Wealth Partners LLC MA lifted its stake in Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider's stock worth $22,314,000 after purchasing an additional 3,883 shares in the last quarter. Davidson Trust Co. lifted its position in Accenture by 7.4% in the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock valued at $812,000 after acquiring an additional 158 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Accenture by 37.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider's stock worth $1,088,000 after acquiring an additional 843 shares during the period. SteelPeak Wealth LLC increased its stake in shares of Accenture by 127.1% during the fourth quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider's stock worth $817,000 after acquiring an additional 1,300 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction dated Friday, April 11th. The stock was 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. The trade was a 17.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 169 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value 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. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,016 shares of company stock valued at $1,694,866 over the last 90 days. 0.02% of the stock is owned by insiders.

Accenture Stock Up 0.1%

Shares of Accenture stock opened at $322.47 on Wednesday. The firm's 50-day moving average is $303.47 and its two-hundred day moving average is $341.94. The stock has a market cap of $201.97 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.23 and a beta of 1.35. 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 plc has a 1 year low of $275.01 and a 1 year high of $398.35.

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

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.84%. Accenture's payout ratio is 48.89%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACN. Morgan Stanley cut their target price on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating on the stock in a research note on Monday, March 17th. UBS Group decreased their price target on shares of Accenture from $455.00 to $387.00 and set a "buy" rating for the company in a report on Friday, March 21st. Barclays cut their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Baird R W upgraded shares of Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Mizuho dropped their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $377.82.

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.

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