Sierra Summit Advisors LLC Sells 170 Shares of Accenture plc (NYSE:ACN)

Sierra Summit Advisors LLC trimmed its holdings in Accenture plc (NYSE:ACN) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,305 shares of the information technology services provider’s stock after selling 170 shares during the period. Sierra Summit Advisors LLC’s holdings in Accenture were worth $811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Accenture during the 3rd quarter worth $1,866,000. Morse Asset Management Inc bought a new stake in Accenture during the third quarter worth about $25,000. EP Wealth Advisors LLC grew its stake in Accenture by 28.8% during the third quarter. EP Wealth Advisors LLC now owns 31,967 shares of the information technology services provider’s stock worth $11,300,000 after buying an additional 7,151 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Accenture in the 3rd quarter valued at approximately $550,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Accenture by 37.5% during the 3rd quarter. Dunhill Financial LLC now owns 253 shares of the information technology services provider’s stock worth $89,000 after acquiring an additional 69 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Accenture Stock Down 5.4 %

Shares of NYSE:ACN opened at $285.04 on Monday. The business’s 50-day moving average is $349.68 and its 200-day moving average is $354.67. Accenture plc has a 1 year low of $275.00 and a 1 year high of $398.35. The company has a market capitalization of $178.53 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.77 EPS. Equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.08%. Accenture’s dividend payout ratio is presently 48.89%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Royal Bank of Canada decreased their target price on Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets raised their target price on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.23.

Insider Activity at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,905 shares of company stock valued at $8,181,753 in the last three months. Corporate insiders own 0.02% of the company’s stock.

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.