Aspiriant LLC Has $916,000 Stock Position in Accenture PLC (NYSE:ACN)

Aspiriant LLC decreased its holdings in Accenture PLC (NYSE:ACN) by 1.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,936 shares of the information technology services provider’s stock after selling 58 shares during the period. Aspiriant LLC’s holdings in Accenture were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACN. Norges Bank acquired a new position in Accenture in the fourth quarter valued at about $2,351,683,000. GAMMA Investing LLC raised its position in Accenture by 30,256.8% during the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after purchasing an additional 3,410,248 shares in the last quarter. Wellington Management Group LLP raised its position in Accenture by 22.8% during 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Accenture during the 4th quarter worth $666,495,000. Finally, Capital Research Global Investors lifted its position in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock worth $4,325,526,000 after buying an additional 1,770,024 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Down 0.7%

Shares of ACN opened at $312.03 on Wednesday. The business’s 50-day moving average price is $306.40 and its 200-day moving average price is $334.90. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.17. The stock has a market cap of $195.43 billion, a PE ratio of 25.77, a P/E/G ratio of 3.17 and a beta of 1.33. Accenture PLC has a twelve month low of $275.01 and a twelve month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a net margin of 11.43% and a return on equity of 26.49%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.77 earnings per share. On average, equities analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were paid a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.90%. Accenture’s dividend payout ratio is presently 48.89%.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the transaction, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ACN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler reduced their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets boosted their target price on shares of Accenture to $355.00 and gave the stock a “hold” rating in a report on Wednesday, March 26th. Royal Bank Of Canada reduced their price objective on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Finally, Mizuho cut their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.00.

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.