State of Alaska Department of Revenue Cuts Stock Holdings in Accenture plc (NYSE:ACN)

State of Alaska Department of Revenue trimmed its position in shares of Accenture plc (NYSE:ACN) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,291 shares of the information technology services provider’s stock after selling 800 shares during the quarter. State of Alaska Department of Revenue’s holdings in Accenture were worth $25,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC boosted its holdings in shares of Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of Accenture in the 4th quarter worth approximately $27,000. Annapolis Financial Services LLC lifted its position in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture in the 4th quarter worth about $29,000. Finally, Atwood & Palmer Inc. lifted its holdings in Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN traded up $1.92 during midday trading on Wednesday, reaching $305.75. 1,751,182 shares of the company’s stock traded hands, compared to its average volume of 2,899,779. The firm has a fifty day moving average of $299.60 and a two-hundred day moving average of $335.48. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a market capitalization of $191.61 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same period in the prior year, the business posted $3.19 EPS. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts forecast that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.69%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Insider Activity

In related news, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the transaction, the chief financial officer now owns 42,781 shares in the company, valued at approximately $13,518,796. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at $13,518,796. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Insiders sold 20,083 shares of company stock valued at $6,302,285 in the last quarter. 0.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ACN shares. Robert W. Baird lowered their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Susquehanna reduced their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. TD Cowen lowered their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Redburn Atlantic boosted their price objective on shares of Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Citigroup reduced their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $352.74.

About Accenture

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.