Quadrant Capital Group LLC Sells 80 Shares of Accenture plc (NYSE:ACN)

Quadrant Capital Group LLC lowered its holdings in Accenture plc (NYSE:ACN) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,219 shares of the information technology services provider’s stock after selling 80 shares during the period. Quadrant Capital Group LLC’s holdings in Accenture were worth $2,540,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Accenture by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider’s stock worth $21,246,236,000 after buying an additional 392,183 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider’s stock worth $4,750,021,000 after purchasing an additional 136,665 shares during the last quarter. Wellington Management Group LLP lifted its stake in Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares during the last quarter. Norges Bank bought a new position in Accenture during the fourth quarter valued at $2,351,683,000. Finally, Charles Schwab Investment Management Inc. increased its position in Accenture by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,964,480 shares of the information technology services provider’s stock worth $1,746,455,000 after buying an additional 140,726 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,905 shares of company stock valued at $8,181,753 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. Barclays dropped their price target on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Mizuho cut their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $378.23.

Accenture Trading Down 5.4 %

Shares of ACN stock opened at $285.04 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $178.53 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The business has a 50-day moving average price of $349.68 and a two-hundred day moving average price of $354.55. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same period last year, the business earned $2.77 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be issued a $1.48 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.08%. Accenture’s dividend payout ratio is currently 48.89%.

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.