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

SteelPeak Wealth LLC reduced its position in Accenture plc (NYSE:ACN) by 25.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 928 shares of the information technology services provider’s stock after selling 324 shares during the period. SteelPeak Wealth LLC’s holdings in Accenture were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Bennett Associates Wealth Management boosted its position in Accenture by 7.8% during the second quarter. Bennett Associates Wealth Management now owns 1,021 shares of the information technology services provider’s stock worth $310,000 after purchasing an additional 74 shares in the last quarter. Salvus Wealth Management LLC grew its stake in Accenture by 6.2% in the 2nd quarter. Salvus Wealth Management LLC now owns 1,347 shares of the information technology services provider’s stock valued at $409,000 after acquiring an additional 79 shares during the period. 180 Wealth Advisors LLC increased its holdings in Accenture by 17.1% in the 2nd quarter. 180 Wealth Advisors LLC now owns 1,708 shares of the information technology services provider’s stock worth $509,000 after acquiring an additional 249 shares in the last quarter. Country Club Bank raised its position in Accenture by 1.0% during the second quarter. Country Club Bank now owns 3,446 shares of the information technology services provider’s stock worth $1,045,000 after acquiring an additional 33 shares during the period. Finally, Osher Van de Voorde Investment Management lifted its holdings in Accenture by 3.6% during the second quarter. Osher Van de Voorde Investment Management now owns 52,119 shares of the information technology services provider’s stock valued at $15,813,000 after purchasing an additional 1,790 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen decreased their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Friday, July 19th. Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Barclays lowered their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Finally, The Goldman Sachs Group began coverage on shares of Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $351.82.

Accenture Stock Up 0.7 %

Shares of ACN traded up $2.22 during trading on Friday, reaching $327.35. 185,792 shares of the company traded hands, compared to its average volume of 2,867,832. The stock has a 50-day simple moving average of $310.35 and a 200-day simple moving average of $328.16. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The stock has a market cap of $205.15 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $16.55 billion. During the same period in the previous year, the firm earned $3.19 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts predict that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were given a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.58%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Insiders Place Their Bets

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

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.