Accenture plc (NYSE:ACN) stake to be reduced by Avity Investment Management Inc.

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Avity Investment Management Inc. reduced its stake in Accenture plc (NYSE:ACN – Get Rating) by 3.9% in the first quarter, according to its latest SEC filing. The company held 104,047 shares in the information technology service provider after selling 4,190 shares during the quarter. Accenture represents approximately 2.9% of his holding in Avity Investment Management Inc., which is his 18th largest holding. Accenture’s stake in Avity Investment Management Inc. was worth $29,738,000 as of his latest SEC filing.

Several other institutional investors also changed their stakes in the company. Optas LLC increased his position in Accenture by 9.2% in the first quarter. Optas LLC purchased an additional 105 shares during the last quarter and now owns 1,241 shares of the information technology services provider, valued at $355,000. Ignite Planners LLC increased its Accenture position by 9.6% in the first quarter. Ignite Planners LLC acquired an additional 86 shares during the period and now owns 979 shares valued at $276,000 in the information technology services provider. Xponance Inc. increased its position in Accenture stock by 6.3% in the first quarter. Xponance Inc. acquired an additional 9,291 shares during the period and now owns 156,456 shares valued at $44,717,000 in the information technology service provider. Stanley Raman Group Limited acquired a new position in Accenture stock worth approximately $300,000 in the first quarter. Finally, GPS Wealth Strategies Group LLC acquired new shares in his Accenture worth $223,000 during the first quarter. Institutional investors and hedge funds own 73.00% of the company’s shares.

Accenture price performance

NYSE:ACN shares fell $0.28 during trading hours on Tuesday to $297.13. The company’s stock traded 385,331 shares, with an average turnover of 2,540,307 shares. Accenture hit a 52-week low of $242.80 and a 52-week high of $327.93. The company has a market capitalization of $187.75 billion, a price/earnings ratio of 26.51 times, a P/E ratio of 2.71 times, and a beta of 1.24 times. The company’s 50-day moving average price is $291.79 and its 200-day moving average price is $280.21.

Accenture (NYSE:ACN – Get Rating) last released its quarterly earnings data on Thursday, June 22nd. The information technology service provider reported EPS of $3.19 for the quarter, beating consensus expectations of $2.96 by $0.23. The company had revenue of $16.56 billion for the quarter, compared with analyst expectations of $16.49 billion. Accenture’s net profit margin was 11.28% and return on equity was 30.47%. Accenture’s sales increased 2.5% year-on-year. EPS for the same business in the year-ago quarter was $2.79. On average, equity research analysts expect Accenture to post earnings per share of $11.59 for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend payable on Tuesday, August 15th. His $1.12 dividend will be issued to shareholders of record on Thursday, July 13. This equates to an annual dividend of $4.48 and a dividend yield of 1.51%. The ex-dividend date is Wednesday, July 12th. Accenture’s dividend payout ratio (DPR) is currently 39.93%.

Analysts set new price target

Several research analysts have voiced their opinions about the company. Deutsche Bank Aktiengesellschaft raised its price target on Accenture from $292.00 to $377.00 in a report on Friday, June 9. In a report on Wednesday, June 14, Piper Sandler upgraded Accenture from ‘underweight’ to ‘neutral’ and raised his price target on the company from $250.00 to $316.00. Robert W. Baird lowered his price target on Accenture to $316.00 from $322.00 in a research note on Friday. StockNews.com upgraded Accenture’s rating from “hold” to “buy” in a research report on Wednesday, June 21. Finally, Royal Bank of Canada raised its price target on Accenture from $335.00 to $340.00, giving the company an “outperform” rating in its research note on Friday, March 24. Nine equity research analysts rate the stock as a “hold” and 10 as a “buy.” Data from MarketBeat.com shows the company has an average rating of “moderate buy” and a consensus price target of $326.55.

Accenture insider activity

In related news, CAO Melissa A. Burgum sold 1,344 shares in the company in a transaction on Monday, June 26th. The shares were sold at an average price of $300.00, giving her a total of $403,200.00. Following the closing of the transaction, the Chief Accounting Officer will directly own 10,506 shares of the company’s stock, valued at approximately $3,151,800. The transaction was disclosed in documents filed with the SEC and can be accessed on the SEC’s website. In other news from Accenture, insider Erin Shuke sold 5,250 shares in a deal on Monday, April 24. The shares sold at an average price of $275.90 for a total transaction value of $1,448,475.00. Following the closing of the transaction, insiders now own 26,908 shares of the Company’s stock, valued at $7,423,917.20. The sale was disclosed in her SEC legal filings, which are available at this link. Also, CAO Melissa A. Burgum sold 1,344 shares in the Monday, June 26th transaction. The stock sold at an average price of $300.00, giving him a trading value of $403,200.00. Following the transaction, the Chief Accounting Officer now owns 10,506 shares of the company directly, valued at approximately $3,151,800. Disclosure information regarding this sale can be found here. Insiders sold a total of 16,354 shares worth $4,583,230 in the past three months. Insiders own 0.08% of the company’s shares.

Accenture company profile

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Accenture plc is a professional services company providing strategy and consulting, interactive, industry X, song, technology and operations services worldwide. The company offers application services including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, robotic process automation, natural language processing, intelligent automation including virtual agents, application management services, and software. doing. engineering services; strategy and consulting services; Data and Analytics Strategy, Data Discovery and Augmentation, Data Management and Beyond, Data Democratization, and Industrialized Solutions comprise turnkey analytics and artificial intelligence (AI) solutions. Metaverse; and Sustainability Services.

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Want to know if other hedge funds hold ACN? Visit HoldingsChannel.com to get Accenture plc’s (NYSE:ACN – Get Rating) latest 13F filing and insider trading.

Accenture Quarterly Institutional Ownership (NYSE:ACN)

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