Mirae Asset Global Investments Co. Ltd. Sells 58,877 Shares of Accenture plc (NYSE:ACN)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Accenture plc (NYSE:ACN) by 30.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,062 shares of the information technology services provider’s stock after selling 58,877 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Accenture were worth $45,774,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Chilton Capital Management LLC increased its stake in shares of Accenture by 180.0% in the fourth 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 period. DiNuzzo Private Wealth Inc. bought a new position in shares of Accenture during the fourth quarter valued at about $27,000. Annapolis Financial Services LLC grew its stake in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in Accenture during the 4th quarter valued at about $29,000. Finally, Atwood & Palmer Inc. grew its position in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Insiders have sold a total of 20,083 shares of company stock valued at $6,302,285 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Accenture Trading Down 2.2 %

NYSE:ACN traded down $6.61 during trading hours on Friday, reaching $299.14. The company had a trading volume of 3,158,944 shares, compared to its average volume of 4,131,430. The firm has a market cap of $187.47 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.41 and a beta of 1.23. The firm’s 50 day moving average price is $299.21 and its 200-day moving average price is $334.77. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The firm had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $3.19 EPS. On average, analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Analysts Set New Price Targets

ACN has been the subject of a number of research analyst reports. Barclays dropped their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Wedbush reduced their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. BMO Capital Markets reduced their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. Mizuho decreased their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $395.00 target price on shares of Accenture in a research report on Friday, May 24th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $352.74.

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.