Kingsview Wealth Management LLC Sells 26,891 Shares of Accenture PLC $ACN

Kingsview Wealth Management LLC lowered its stake in Accenture PLC (NYSE:ACN) by 74.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,047 shares of the information technology services provider’s stock after selling 26,891 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Accenture were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Running Oak Capital LLC grew its position in shares of Accenture by 14.3% during the third quarter. Running Oak Capital LLC now owns 57,541 shares of the information technology services provider’s stock worth $14,190,000 after purchasing an additional 7,190 shares in the last quarter. Weitz Investment Management Inc. grew its position in shares of Accenture by 28.8% during the third quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock worth $39,592,000 after purchasing an additional 35,900 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Accenture by 27.7% during the fourth quarter. Teacher Retirement System of Texas now owns 282,340 shares of the information technology services provider’s stock worth $75,752,000 after purchasing an additional 61,314 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Accenture by 180.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 404,680 shares of the information technology services provider’s stock valued at $99,794,000 after buying an additional 260,357 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Accenture by 197.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 141,484 shares of the information technology services provider’s stock valued at $37,960,000 after buying an additional 93,880 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was 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 of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock opened at $187.32 on Friday. The stock has a market cap of $124.65 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a 50 day moving average price of $185.71 and a 200-day moving average price of $226.50. Accenture PLC has a one year low of $155.82 and a one year high of $321.77.

Accenture (NYSE:ACN) last announced its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. Equities analysts expect that Accenture PLC will post 13.87 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ACN shares. UBS Group restated a “buy” rating on shares of Accenture in a report on Tuesday, March 17th. Mizuho cut their price target on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a report on Friday, March 6th. Robert W. Baird cut their price target on Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Finally, Citigroup cut their price target on Accenture from $266.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $274.50.

Accenture Company Profile

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.