Amalgamated Bank Sells 8,781 Shares of Accenture plc (NYSE:ACN)

Amalgamated Bank trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,892 shares of the information technology services provider’s stock after selling 8,781 shares during the quarter. Amalgamated Bank’s holdings in Accenture were worth $38,500,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Annapolis Financial Services LLC increased its position in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in Accenture during the fourth quarter worth about $29,000. Atwood & Palmer Inc. increased its holdings in 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 buying an additional 58 shares during the period. Unique Wealth Strategies LLC bought a new position in Accenture in the 2nd quarter valued at about $26,000. Finally, Grayhawk Investment Strategies Inc. bought a new position in Accenture in the 4th quarter valued at about $35,000. 75.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ACN shares. JPMorgan Chase & Co. raised their target price on shares of Accenture from $330.00 to $376.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Jefferies Financial Group decreased their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Barclays decreased their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. BMO Capital Markets decreased their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Finally, Citigroup raised their price target on shares of Accenture from $350.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.91.

Accenture Price Performance

NYSE:ACN opened at $336.93 on Wednesday. The firm’s 50 day simple moving average is $329.94 and its 200 day simple moving average is $322.59. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The company has a market cap of $211.15 billion, a PE ratio of 30.85, a P/E/G ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

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

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by insiders.

About Accenture

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.