Violich Capital Management Inc. Sells 325 Shares of Accenture PLC (NYSE:ACN)

by · The Cerbat Gem

Violich Capital Management Inc. decreased its position in Accenture PLC (NYSE:ACN – Free Report) by 0.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 36,552 shares of the information technology services provider’s stock after selling 325 shares during the period. Accenture comprises about 1.5% of Violich Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Violich Capital Management Inc.’s holdings in Accenture were worth $11,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Accenture in the fourth quarter worth about $30,000. Park Square Financial Group LLC purchased a new stake in Accenture during the 4th quarter valued at $31,000. Inlight Wealth Management LLC bought a new position in Accenture in the 1st quarter worth $32,000. Capital A Wealth Management LLC bought a new position in shares of Accenture during the 4th quarter valued at about $34,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Accenture in the 4th quarter valued at about $35,000. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Benchmark reaffirmed a “mixed” rating on shares of Accenture in a research report on Friday, June 20th. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their target price on shares of Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, June 16th. Piper Sandler reduced their price target on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Argus set a $370.00 price objective on shares of Accenture in a report on Tuesday, June 24th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average price target of $370.71.

Read Our Latest Stock Analysis on ACN

Accenture Stock Performance

Shares of ACN stock opened at $279.80 on Tuesday. The stock has a market cap of $175.25 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The company’s fifty day moving average price is $308.44 and its 200-day moving average price is $326.35. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN – Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $3.13 EPS. On average, equities analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture’s dividend payout ratio (DPR) is presently 47.13%.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares in the company, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mauro Macchi sold 500 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the transaction, the chief executive officer directly owned 2,283 shares in the company, valued at approximately $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,454 shares of company stock valued at $1,646,780 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Accenture 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.

See Also

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