US Asset Management LLC Sells 105 Shares of Accenture plc (NYSE:ACN)

by · The Cerbat Gem

US Asset Management LLC trimmed its position in Accenture plc (NYSE:ACN – Free Report) by 5.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,726 shares of the information technology services provider’s stock after selling 105 shares during the period. US Asset Management LLC’s holdings in Accenture were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture during the 4th quarter worth about $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Accenture in the 4th quarter valued at approximately $30,000. POM Investment Strategies LLC increased its position in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the period. Finally, Promus Capital LLC acquired a new position in shares of Accenture during the fourth quarter worth approximately $34,000. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

NYSE ACN opened at $316.22 on Friday. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35. The company has a 50 day moving average of $302.36 and a 200-day moving average of $340.47. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $198.06 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 3.23 and a beta of 1.35.

Accenture (NYSE:ACN – Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. During the same period in the previous year, the business posted $2.77 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.87%. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACN. Barclays lowered their price objective on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Guggenheim dropped their price objective on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Morgan Stanley decreased their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday, March 17th. Wall Street Zen downgraded Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $382.14.

Read Our Latest Stock Analysis on ACN

Insider Buying and Selling

In other Accenture news, 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 transaction of $47,641.10. Following the completion of the sale, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 in the last quarter. Insiders own 0.02% 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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