Accenture plc (NYSE:ACN) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lowered its stake in shares of Accenture plc (NYSE:ACN) by 44.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,923 shares of the information technology services provider’s stock after selling 1,543 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Accenture were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ACN. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $27,000. Annapolis Financial Services LLC raised its holdings in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture in the fourth quarter valued at $29,000. Atwood & Palmer Inc. increased its position in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. acquired a new position in Accenture in the 4th quarter valued at about $35,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Accenture Stock Performance

Shares of NYSE ACN traded down $0.66 during trading on Wednesday, reaching $318.02. The stock had a trading volume of 2,326,185 shares, compared to its average volume of 2,918,297. The firm’s 50 day moving average price is $306.05 and its two-hundred day moving average price is $330.11. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The stock has a market cap of $199.30 billion, a PE ratio of 29.20, a P/E/G ratio of 3.66 and a beta of 1.23.

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

Accenture Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Wall Street Analyst Weigh In

Several analysts have commented on ACN shares. Bank of America lowered their target price 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. TD Cowen decreased their price target on Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Guggenheim reaffirmed a “buy” rating and set a $395.00 price objective on shares of Accenture in a research note on Friday, May 24th. Morgan Stanley downgraded shares of Accenture from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Finally, Piper Sandler cut their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $351.82.

Accenture Profile

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.