Accenture PLC $ACN Shares Sold by Wellington Management Group LLP

by · The Markets Daily

Wellington Management Group LLP reduced its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,990,715 shares of the information technology services provider’s stock after selling 184,803 shares during the period. Accenture makes up approximately 0.7% of Wellington Management Group LLP’s investment portfolio, making the stock its 22nd biggest holding. Wellington Management Group LLP owned 1.91% of Accenture worth $3,741,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mpwm Advisory Solutions LLC acquired a new position in Accenture during the fourth quarter valued at $30,000. Park Square Financial Group LLC acquired a new position in Accenture during the fourth quarter valued at $31,000. Inlight Wealth Management LLC acquired a new position in Accenture during the first quarter valued at $32,000. Capital A Wealth Management LLC acquired a new position in Accenture during the fourth quarter valued at $34,000. Finally, Navigoe LLC acquired a new position in Accenture during the fourth quarter valued at $37,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Up 0.4%

Shares of NYSE ACN opened at $247.04 on Monday. Accenture PLC has a 12-month low of $236.67 and a 12-month high of $398.35. The stock has a market cap of $154.73 billion, a PE ratio of 19.67, a P/E/G ratio of 2.25 and a beta of 1.29. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $283.92 and a 200 day moving average of $310.68.

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 the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.13 EPS. As a group, sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 10th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, July 10th. Accenture’s payout ratio is presently 47.13%.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Mauro Macchi sold 500 shares of the business’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the transaction, the chief executive officer directly owned 2,283 shares in the company, valued at $644,582.22. The trade was a 17.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela Beatty sold 203 shares of the business’s stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the transaction, the insider owned 5,249 shares in the company, valued at $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock worth $834,280 in the last ninety days. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of research reports. UBS Group restated a “buy” rating and set a $395.00 target price (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Morgan Stanley decreased their target price on shares of Accenture from $340.00 to $325.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 24th. Evercore ISI started coverage on shares of Accenture in a research report on Thursday, July 17th. They issued an “outperform” rating and a $330.00 price objective for the company. Benchmark reiterated a “mixed” rating on shares of Accenture in a research report on Friday, June 20th. Finally, Mizuho set a $348.00 price objective on shares of Accenture and gave the stock an “outperform” rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.21.

Read Our Latest Analysis on Accenture

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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