751 Shares in Accenture plc (NYSE:ACN) Bought by D.B. Root & Company LLC

D.B. Root & Company LLC bought a new position in Accenture plc (NYSE:ACN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 751 shares of the information technology services provider’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACN. Simplicity Solutions LLC increased its stake in shares of Accenture by 3.1% in the fourth quarter. Simplicity Solutions LLC now owns 11,608 shares of the information technology services provider’s stock valued at $4,073,000 after buying an additional 352 shares in the last quarter. MV Capital Management Inc. increased its stake in shares of Accenture by 0.8% in the fourth quarter. MV Capital Management Inc. now owns 11,843 shares of the information technology services provider’s stock valued at $4,156,000 after buying an additional 94 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Accenture in the fourth quarter valued at $13,299,000. Simplicity Wealth LLC acquired a new stake in shares of Accenture in the fourth quarter valued at $943,000. Finally, Capital Advisors Inc. OK increased its stake in shares of Accenture by 3.1% in the fourth quarter. Capital Advisors Inc. OK now owns 225,762 shares of the information technology services provider’s stock valued at $79,222,000 after buying an additional 6,779 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by insiders.

Accenture Stock Down 0.6 %

NYSE:ACN opened at $314.09 on Tuesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The business has a 50 day moving average price of $308.48 and a two-hundred day moving average price of $328.61. The company has a market cap of $196.84 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last released its quarterly 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). The firm had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $3.19 EPS. As a group, analysts anticipate that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be issued a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s payout ratio is presently 47.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACN. Susquehanna lowered their price objective on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Wedbush lowered their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. TD Cowen lowered their price objective on Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a research report on Friday, June 21st. Barclays lowered their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Finally, 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. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.82.

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.