Accenture PLC (NYSE:ACN) Shares Sold by Berry Wealth Group LP

Berry Wealth Group LP reduced its position in Accenture PLC (NYSE:ACN) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 712 shares of the information technology services provider’s stock after selling 69 shares during the quarter. Berry Wealth Group LP’s holdings in Accenture were worth $222,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the fourth quarter worth $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture during the fourth quarter worth $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture during the fourth quarter worth $31,000. Promus Capital LLC acquired a new stake in shares of Accenture during the fourth quarter worth $34,000. Finally, Capital A Wealth Management LLC purchased a new position in Accenture in the fourth quarter worth $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Performance

Accenture stock opened at $295.03 on Tuesday. The company has a market cap of $184.79 billion, a PE ratio of 23.49, a P/E/G ratio of 2.85 and a beta of 1.33. The company has a fifty day moving average price of $307.08 and a two-hundred day moving average price of $333.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.13 earnings per share. Research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.01%. Accenture’s payout ratio is currently 47.13%.

Wall Street Analysts Forecast Growth

ACN has been the subject of several research analyst reports. Royal Bank Of Canada cut their price objective on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price target on Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday, June 16th. UBS Group reaffirmed a “buy” rating and set a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Mizuho decreased their price objective on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Finally, BMO Capital Markets decreased their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a research note on Monday. Seven investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $374.00.

Insider Buying and Selling

In other Accenture news, COO John F. Walsh sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer now owns 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares of the company’s stock, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 in the last three months. 0.02% of the stock is owned by 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.