Annex Advisory Services LLC Raises Stock Position in Accenture plc (NYSE:ACN)

Annex Advisory Services LLC increased its stake in Accenture plc (NYSE:ACNFree Report) by 12.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 842 shares of the information technology services provider’s stock after purchasing an additional 92 shares during the quarter. Annex Advisory Services LLC’s holdings in Accenture were worth $292,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC boosted its holdings in Accenture by 14.4% in the first quarter. Gateway Investment Advisers LLC now owns 45,551 shares of the information technology services provider’s stock worth $15,788,000 after purchasing an additional 5,739 shares during the last quarter. Beacon Wealthcare LLC purchased a new position in shares of Accenture during the 1st quarter worth $575,000. Perkins Coie Trust Co boosted its stake in shares of Accenture by 5.0% during the 1st quarter. Perkins Coie Trust Co now owns 16,042 shares of the information technology services provider’s stock worth $5,560,000 after acquiring an additional 769 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Accenture by 17.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 4,957 shares of the information technology services provider’s stock worth $1,718,000 after acquiring an additional 751 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Accenture during the 1st quarter worth $28,567,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the sale, the general counsel now directly owns 30,702 shares of the company’s stock, valued at approximately $9,705,516.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. 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. Company insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a research note on Friday, May 24th. Robert W. Baird decreased their price objective on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Redburn Atlantic raised their price objective on shares of Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Piper Sandler decreased their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Finally, BMO Capital Markets decreased their price objective on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.09.

Read Our Latest Analysis on ACN

Accenture Price Performance

Shares of Accenture stock traded up $0.21 during trading hours on Tuesday, reaching $307.42. The company’s stock had a trading volume of 1,430,561 shares, compared to its average volume of 2,790,367. The firm has a 50 day moving average price of $301.03 and a 200-day moving average price of $337.09. 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 $206.20 billion, a P/E ratio of 28.13, a P/E/G ratio of 3.39 and a beta of 1.22.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 firm had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Accenture plc will post 11.96 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.68%. Accenture’s dividend payout ratio is presently 47.25%.

About Accenture

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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