Accenture PLC $ACN Shares Sold by Arax Advisory Partners

Arax Advisory Partners lowered its holdings in shares of Accenture PLC (NYSE:ACNFree Report) by 59.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,169 shares of the information technology services provider’s stock after selling 10,533 shares during the quarter. Arax Advisory Partners’ holdings in Accenture were worth $1,924,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new position in shares of Accenture in the fourth quarter valued at approximately $622,000. Aptus Capital Advisors LLC raised its position in shares of Accenture by 9.5% in the fourth quarter. Aptus Capital Advisors LLC now owns 17,778 shares of the information technology services provider’s stock valued at $4,770,000 after buying an additional 1,544 shares during the last quarter. Arete Wealth Advisors LLC raised its position in shares of Accenture by 13.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 3,997 shares of the information technology services provider’s stock valued at $1,072,000 after buying an additional 469 shares during the last quarter. Jacobi Capital Management LLC raised its position in shares of Accenture by 3.1% in the fourth quarter. Jacobi Capital Management LLC now owns 7,991 shares of the information technology services provider’s stock valued at $2,144,000 after buying an additional 243 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Accenture by 55.3% in the fourth quarter. CreativeOne Wealth LLC now owns 15,766 shares of the information technology services provider’s stock valued at $4,230,000 after buying an additional 5,616 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Accenture stock opened at $165.39 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $317.05. The firm has a 50 day moving average price of $181.07 and a 200 day moving average price of $221.09. The company has a market cap of $110.06 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.62 and a beta of 1.09.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. During the same period in the previous year, the firm earned $2.82 earnings per share. Accenture’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts predict that Accenture PLC will post 13.84 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.

Insider Transactions at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the sale, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Accenture

Here are the key news stories impacting Accenture this week:

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Accenture from $275.00 to $248.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. Truist Financial lowered shares of Accenture from a “buy” rating to a “hold” rating and cut their price objective for the company from $260.00 to $210.00 in a research report on Monday, June 1st. Robert W. Baird cut their price objective on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Citigroup cut their price objective on shares of Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Accenture from $210.00 to $199.00 and set a “hold” rating for the company in a report on Tuesday, June 2nd. Sixteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.04.

View Our Latest Stock Report on Accenture

Accenture Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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