Global Wealth Strategies & Associates Sells 57 Shares of Accenture plc (NYSE:ACN)

Global Wealth Strategies & Associates lowered its stake in shares of Accenture plc (NYSE:ACNFree Report) by 10.7% during the first quarter, Holdings Channel.com reports. The firm owned 475 shares of the information technology services provider’s stock after selling 57 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Accenture were worth $165,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC acquired a new stake in Accenture in the fourth quarter worth about $4,341,000. Fairman Group LLC acquired a new stake in Accenture in the fourth quarter worth about $29,705,000. Cooksen Wealth LLC acquired a new stake in Accenture in the fourth quarter worth about $36,000. Grayhawk Investment Strategies Inc. acquired a new stake in Accenture in the fourth quarter worth about $35,000. Finally, M3 Advisory Group LLC purchased a new position in shares of Accenture in the fourth quarter worth about $230,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several research analyst reports. Morgan Stanley raised their price objective on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Mizuho reduced their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group reduced their price objective on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Citigroup reduced their price objective on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Susquehanna reiterated a “neutral” rating and set a $360.00 price target (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.50.

View Our Latest Report on ACN

Accenture Price Performance

Shares of ACN stock traded up $2.04 on Tuesday, hitting $287.57. The stock had a trading volume of 1,466,671 shares, compared to its average volume of 2,631,730. The firm has a market capitalization of $192.88 billion, a P/E ratio of 25.89, a P/E/G ratio of 3.12 and a beta of 1.22. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company’s 50 day moving average price is $303.42 and its 200-day moving average price is $338.41.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.69 EPS. On average, equities analysts forecast that Accenture plc will post 12.08 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

Insider Buying and Selling at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the sale, the chief financial officer now owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the transaction, the chief financial officer now owns 42,781 shares in the company, valued at approximately $13,518,796. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock valued at $8,959,325 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Accenture Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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