Forsta AP Fonden Sells 6,700 Shares of Accenture plc (NYSE:ACN)

Forsta AP Fonden lessened its stake in shares of Accenture plc (NYSE:ACNGet Rating) by 4.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 160,729 shares of the information technology services provider’s stock after selling 6,700 shares during the quarter. Accenture comprises 0.6% of Forsta AP Fonden’s portfolio, making the stock its 22nd largest holding. Forsta AP Fonden’s holdings in Accenture were worth $54,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ACN. Venture Visionary Partners LLC grew its holdings in shares of Accenture by 0.3% during the fourth quarter. Venture Visionary Partners LLC now owns 11,105 shares of the information technology services provider’s stock worth $4,603,000 after purchasing an additional 32 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Accenture by 1.5% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 2,177 shares of the information technology services provider’s stock worth $903,000 after buying an additional 33 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Accenture by 2.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,365 shares of the information technology services provider’s stock worth $566,000 after buying an additional 34 shares in the last quarter. Paradigm Financial Partners LLC boosted its stake in Accenture by 0.3% in the fourth quarter. Paradigm Financial Partners LLC now owns 10,429 shares of the information technology services provider’s stock worth $4,323,000 after buying an additional 35 shares in the last quarter. Finally, BNC Wealth Management LLC boosted its stake in Accenture by 0.4% in the first quarter. BNC Wealth Management LLC now owns 9,924 shares of the information technology services provider’s stock worth $3,347,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

Analyst Ratings Changes

ACN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their target price on Accenture from $440.00 to $364.00 in a research note on Friday, June 17th. Morgan Stanley lowered their price objective on Accenture from $390.00 to $385.00 and set an “overweight” rating for the company in a research report on Friday, June 24th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 price objective for the company. in a research report on Wednesday, June 29th. Bank of America decreased their target price on Accenture from $443.00 to $374.00 and set a “buy” rating for the company in a report on Friday, June 17th. Finally, Citigroup decreased their target price on Accenture from $400.00 to $330.00 and set a “buy” rating for the company in a report on Friday, June 24th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $358.84.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 750 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 21,400 shares of the company’s stock, valued at $6,420,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Ellyn Shook sold 750 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 21,400 shares of the company’s stock, valued at $6,420,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Joel Unruch sold 555 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total value of $166,500.00. Following the sale, the general counsel now directly owns 25,601 shares in the company, valued at $7,680,300. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,389 shares of company stock valued at $3,132,777. Insiders own 0.07% of the company’s stock.

Accenture Trading Down 1.0 %

ACN traded down $3.20 during trading on Friday, reaching $307.41. The stock had a trading volume of 47,114 shares, compared to its average volume of 1,822,650. The stock’s 50 day moving average is $288.02 and its two-hundred day moving average is $308.87. The company has a market capitalization of $194.45 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.89 and a beta of 1.22. Accenture plc has a one year low of $261.77 and a one year high of $417.37.

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

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Thursday, July 14th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.26%. Accenture’s dividend payout ratio is currently 37.63%.

About Accenture

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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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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