Plancorp LLC Sells 108 Shares of Accenture plc (NYSE:ACN)

Plancorp LLC lowered its position in Accenture plc (NYSE:ACN) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,482 shares of the information technology services provider’s stock after selling 108 shares during the quarter. Plancorp LLC’s holdings in Accenture were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Unique Wealth Strategies LLC acquired a new position in Accenture in the second quarter valued at $26,000. Annapolis Financial Services LLC lifted its stake in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Accenture during the 2nd quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture during the 4th quarter worth approximately $29,000. Finally, Atwood & Palmer Inc. increased its stake in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 58 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Down 4.9 %

ACN opened at $336.93 on Wednesday. The company’s 50-day moving average price is $329.94 and its two-hundred day moving average price is $322.59. 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 $211.15 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last released 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 return on equity of 27.48% and a net margin of 10.79%. 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 prior year, the business earned $3.19 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.53%. Accenture’s dividend payout ratio is presently 47.25%.

Insider Transactions at Accenture

In related news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction 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 directly owns 22,849 shares in the company, valued at approximately $7,564,161.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at approximately $12,149,550. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several research analyst reports. TD Cowen increased their target price on shares of Accenture from $293.00 to $321.00 and gave the stock a “hold” rating in a research note on Thursday, September 12th. Jefferies Financial Group reduced their target price on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Piper Sandler Companies dropped their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. Finally, Wedbush lowered their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.91.

Accenture Company Profile

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.