Summit Financial LLC Acquires 89 Shares of Accenture plc (NYSE:ACN)

Summit Financial LLC raised its holdings in Accenture plc (NYSE:ACN) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,323 shares of the information technology services provider’s stock after buying an additional 89 shares during the period. Summit Financial LLC’s holdings in Accenture were worth $3,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Brave Asset Management Inc. lifted its stake in shares of Accenture by 2.8% in the fourth quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock valued at $361,000 after buying an additional 28 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Accenture by 0.9% during the fourth quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock valued at $1,116,000 after purchasing an additional 28 shares in the last quarter. Searle & CO. lifted its position in shares of Accenture by 3.6% during the fourth quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 28 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of Accenture by 4.0% during the fourth quarter. KMG Fiduciary Partners LLC now owns 760 shares of the information technology services provider’s stock valued at $267,000 after purchasing an additional 29 shares in the last quarter. Finally, Carr Financial Group Corp lifted its position in shares of Accenture by 2.4% during the fourth quarter. Carr Financial Group Corp now owns 1,245 shares of the information technology services provider’s stock valued at $437,000 after purchasing an additional 29 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.8 %

Shares of ACN stock traded down $2.35 during trading hours on Wednesday, reaching $298.56. The stock had a trading volume of 2,617,150 shares, compared to its average volume of 2,497,852. The stock’s fifty day simple moving average is $347.09 and its 200 day simple moving average is $342.34. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51. The firm has a market capitalization of $200.26 billion, a PE ratio of 27.14, a PEG ratio of 2.87 and a beta of 1.19.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $2.69 EPS. As a group, equities research analysts anticipate that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

Analysts Set New Price Targets

ACN has been the topic of a number of recent analyst reports. Mizuho reissued a “buy” rating and set a $398.00 price target (down from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Royal Bank of Canada raised their price objective on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Morgan Stanley raised their price objective on shares of Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Piper Sandler raised their price objective on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, Stifel Nicolaus raised their price objective on shares of Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.00.

Insider Buying and Selling at Accenture

In other Accenture news, CEO Manish Sharma sold 1,486 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.39, for a total transaction of $550,399.54. Following the transaction, the chief executive officer now directly owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Manish Sharma sold 1,486 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $370.39, for a total transaction of $550,399.54. Following the completion of the transaction, the chief executive officer now owns 4,503 shares in the company, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,639 shares of company stock valued at $10,276,287. 0.07% of the stock is currently owned by company insiders.

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.