Albion Financial Group UT Sells 58 Shares of Accenture plc (NYSE:ACN)

Albion Financial Group UT lowered its position in shares of Accenture plc (NYSE:ACN) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,762 shares of the information technology services provider’s stock after selling 58 shares during the quarter. Accenture comprises 1.3% of Albion Financial Group UT’s investment portfolio, making the stock its 23rd biggest holding. Albion Financial Group UT’s holdings in Accenture were worth $16,901,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ACN. Norges Bank bought a new position in shares of Accenture during the 4th quarter worth about $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Accenture by 100.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after purchasing an additional 875,723 shares in the last quarter. Winslow Capital Management LLC bought a new position in Accenture in the 4th quarter valued at about $288,168,000. Generation Investment Management LLP purchased a new stake in Accenture in the 4th quarter valued at about $286,220,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Accenture in the 4th quarter valued at about $263,421,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACN shares. Stifel Nicolaus decreased their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft lowered shares of Accenture from a “buy” rating to a “hold” rating and decreased their price objective for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Citigroup decreased their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Bank of America decreased their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, Wedbush decreased their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $352.74.

Insider Transactions at Accenture

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now owns 42,781 shares in the company, valued at approximately $13,518,796. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,083 shares of company stock valued at $6,302,285. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

NYSE:ACN traded up $1.92 during trading hours on Wednesday, hitting $305.75. The stock had a trading volume of 1,751,214 shares, compared to its average volume of 2,899,779. The company has a 50 day simple moving average of $299.60 and a two-hundred day simple moving average of $335.48. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The firm has a market capitalization of $191.61 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period in the previous year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

About Accenture

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.