Accenture PLC (NYSE:ACN) Shares Sold by PAX Financial Group LLC

by · The Markets Daily

PAX Financial Group LLC trimmed its position in shares of Accenture PLC (NYSE:ACN – Free Report) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 3,863 shares of the information technology services provider’s stock after selling 53 shares during the quarter. PAX Financial Group LLC’s holdings in Accenture were worth $1,205,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ACN. Norges Bank acquired a new stake in shares of Accenture in the fourth quarter valued at $2,351,683,000. GAMMA Investing LLC raised its stake in Accenture by 30,256.8% in the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after buying an additional 3,410,248 shares in the last quarter. Wellington Management Group LLP raised its stake in Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after buying an additional 2,260,740 shares in the last quarter. Capital Research Global Investors raised its stake in Accenture by 16.8% in the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after buying an additional 1,770,024 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Accenture by 10.7% in the fourth quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider’s stock valued at $2,667,393,000 after buying an additional 732,769 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mauro Macchi sold 500 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the sale, the chief executive officer directly owned 2,283 shares in the company, valued at approximately $644,582.22. This trade represents a 17.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 203 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the sale, the insider owned 5,249 shares of the company’s stock, valued at approximately $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 sold a total of 5,454 shares of company stock worth $1,646,780 over the last quarter. 0.02% of the stock is owned by company insiders.

Accenture Stock Performance

NYSE ACN opened at $279.80 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The business’s 50-day moving average price is $308.44 and its 200 day moving average price is $326.35. The firm has a market cap of $175.25 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.64 and a beta of 1.29.

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 for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the company earned $3.13 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have weighed in on ACN. UBS Group restated a “buy” rating and issued a $395.00 price target (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a research note on Monday, June 16th. Royal Bank Of Canada dropped their price objective on Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. BMO Capital Markets dropped their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday, June 23rd. Finally, Piper Sandler dropped their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $370.71.

Check Out Our Latest Research Report on ACN

About Accenture

(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.

Further Reading

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