Andesa Financial Management Inc. Reduces Stock Holdings in Accenture plc (NYSE:ACN)

Andesa Financial Management Inc. lessened its holdings in shares of Accenture plc (NYSE:ACNGet Rating) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,118 shares of the information technology services provider’s stock after selling 127 shares during the quarter. Andesa Financial Management Inc.’s holdings in Accenture were worth $378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ACN. Jackson Creek Investment Advisors LLC acquired a new stake in Accenture during the 4th quarter valued at approximately $311,000. Atlas Capital Advisors LLC raised its stake in Accenture by 11.1% during the 4th quarter. Atlas Capital Advisors LLC now owns 410 shares of the information technology services provider’s stock valued at $170,000 after acquiring an additional 41 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Accenture by 0.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 11,389 shares of the information technology services provider’s stock valued at $4,721,000 after acquiring an additional 57 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in Accenture by 1.6% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 3,581 shares of the information technology services provider’s stock valued at $1,484,000 after acquiring an additional 56 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new stake in Accenture during the 4th quarter valued at $746,000. Institutional investors and hedge funds own 74.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACN. Bank of America decreased their target price on Accenture from $443.00 to $374.00 and set a “buy” rating on the stock in a report on Friday, June 17th. Cowen decreased their target price on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. Robert W. Baird decreased their target price on Accenture from $340.00 to $310.00 and set a “neutral” rating on the stock in a report on Friday, June 24th. Citigroup lowered their price target on Accenture from $400.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Finally, Exane BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating in a report on Wednesday, June 29th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $358.84.

Insider Activity

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the sale, the insider now directly owns 159,630 shares in the company, valued at approximately $43,248,555.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the sale, the insider now directly owns 159,630 shares in the company, valued at approximately $43,248,555.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 555 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total value of $166,500.00. Following the sale, the general counsel now owns 25,601 shares in the company, valued at $7,680,300. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,389 shares of company stock worth $3,132,777. Company insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN traded down $2.58 during trading hours on Friday, hitting $308.03. 43,922 shares of the company’s stock were exchanged, compared to its average volume of 1,822,650. Accenture plc has a 1-year low of $261.77 and a 1-year high of $417.37. The stock has a market capitalization of $194.84 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 2.89 and a beta of 1.22. The company’s 50-day moving average price is $288.02 and its 200-day moving average price is $308.87.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.05). The firm had revenue of $16.16 billion during the quarter, compared to analyst estimates of $16.05 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. During the same period last year, the company earned $2.40 EPS. On average, research analysts expect that Accenture plc will post 10.68 earnings per share for the current year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 14th will be issued a $0.97 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $3.88 annualized dividend and a yield of 1.26%. Accenture’s dividend payout ratio (DPR) is 37.63%.

Accenture Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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