Accenture plc (NYSE:ACN) Shares Sold by Mather Group LLC.

Posted by Defense World Staff on Jun 18th, 2023

Mather Group LLC. reduced its holdings in shares of Accenture plc (NYSE:ACN – Get Rating) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,927 shares of the information technology services provider’s stock after selling 304 shares during the quarter. Mather Group LLC.’s holdings in Accenture were worth $1,048,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Affiance Financial LLC bought a new stake in shares of Accenture in the 4th quarter worth about $25,000. My Personal CFO LLC acquired a new position in Accenture in the fourth quarter worth about $27,000. Mizuho Securities Co. Ltd. bought a new stake in Accenture in the fourth quarter valued at about $27,000. EWG Elevate Inc. acquired a new stake in Accenture during the fourth quarter valued at approximately $32,000. Finally, Elequin Securities LLC acquired a new position in shares of Accenture in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 73.97% of the company’s stock.

Accenture Price Performance

Accenture stock opened at $319.54 on Friday. Accenture plc has a 12-month low of $242.80 and a 12-month high of $327.93. The stock has a market capitalization of $201.91 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.94 and a beta of 1.24. The firm has a 50 day simple moving average of $288.65 and a 200-day simple moving average of $279.70.

Accenture (NYSE:ACN – Get Rating) last issued its quarterly earnings results on Thursday, March 23rd. The information technology services provider reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.20. The company had revenue of $15.81 billion for the quarter, compared to analysts’ expectations of $15.59 billion. Accenture had a return on equity of 30.73% and a net margin of 11.00%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $2.54 EPS. On average, analysts forecast that Accenture plc will post 11.58 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Thursday, April 13th were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Wednesday, April 12th. This represents a $4.48 annualized dividend and a dividend yield of 1.40%. Accenture’s dividend payout ratio (DPR) is 41.25%.

Insider Transactions at Accenture

In related news, CEO Julie Spellman Sweet sold 2,954 shares of the firm’s stock in a transaction that occurred on Friday, April 14th. The shares were sold at an average price of $280.05, for a total transaction of $827,267.70. Following the completion of the sale, the chief executive officer now directly owns 24,459 shares in the company, valued at $6,849,742.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Accenture news, insider Ellyn Shook sold 5,250 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $275.90, for a total value of $1,448,475.00. Following the completion of the transaction, the insider now directly owns 26,908 shares in the company, valued at $7,423,917.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,954 shares of the business’s stock in a transaction that occurred on Friday, April 14th. The shares were sold at an average price of $280.05, for a total transaction of $827,267.70. Following the sale, the chief executive officer now owns 24,459 shares in the company, valued at approximately $6,849,742.95. The disclosure for this sale can be found here. Insiders have sold 15,010 shares of company stock valued at $4,180,030 in the last quarter. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on Accenture from $340.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 15th. Stifel Nicolaus boosted their price objective on shares of Accenture from $310.00 to $343.00 in a research report on Thursday. Edward Jones raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Wednesday, April 5th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. Finally, William Blair reissued an “outperform” rating on shares of Accenture in a report on Monday, March 20th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $325.58.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, 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 comprises 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 comprises turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.