Accenture plc (NYSE:ACN) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 7.7% in the second quarter, HoldingsChannel reports. The firm owned 13,858 shares of the information technology services provider’s stock after selling 1,159 shares during the period. MainStreet Investment Advisors LLC’s holdings in Accenture were worth $4,205,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ACN. Accretive Wealth Partners LLC boosted its stake in shares of Accenture by 2.3% during the fourth quarter. Accretive Wealth Partners LLC now owns 2,171 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 48 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in shares of Accenture by 7.6% during the 4th quarter. Aveo Capital Partners LLC now owns 2,264 shares of the information technology services provider’s stock worth $794,000 after purchasing an additional 160 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in shares of Accenture by 3.6% during the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock worth $459,000 after buying an additional 46 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Accenture by 79.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,535 shares of the information technology services provider’s stock valued at $881,000 after buying an additional 1,123 shares during the period. Finally, Berger Financial Group Inc purchased a new stake in Accenture in the 4th quarter worth approximately $253,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the sale, the chief financial officer now owns 38,570 shares in the company, valued at $12,149,550. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

Accenture Price Performance

Shares of ACN stock opened at $339.84 on Friday. The company’s fifty day moving average price is $323.63 and its two-hundred day moving average price is $324.30. The firm has a market capitalization of $212.98 billion, a P/E ratio of 31.12, a P/E/G ratio of 3.81 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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 analyst estimates of $16.55 billion. During the same quarter last year, the business earned $3.19 EPS. Accenture’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wedbush decreased their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Piper Sandler Companies decreased their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. UBS Group raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Friday, July 19th. Morgan Stanley cut shares of Accenture from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $382.00 to $300.00 in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $353.41.

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.