TFB Advisors LLC Sells 55 Shares of Accenture plc (NYSE:ACN)

TFB Advisors LLC decreased its holdings in shares of Accenture plc (NYSE:ACN) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 671 shares of the information technology services provider’s stock after selling 55 shares during the quarter. TFB Advisors LLC’s holdings in Accenture were worth $204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new stake in Accenture in the 4th quarter worth approximately $27,000. Annapolis Financial Services LLC grew its stake in Accenture by 507.7% in 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. acquired a new position in Accenture during the 4th quarter worth $29,000. Atwood & Palmer Inc. boosted 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 acquiring an additional 58 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in shares of Accenture in the second quarter worth about $26,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Up 0.5 %

NYSE ACN opened at $341.84 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm has a 50-day moving average price of $319.32 and a two-hundred day moving average price of $325.69. The company has a market capitalization of $214.23 billion, a P/E ratio of 31.30, a P/E/G ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were issued a $1.29 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.51%. Accenture’s dividend payout ratio (DPR) is currently 47.25%.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ACN shares. Piper Sandler Companies dropped their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Susquehanna decreased their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $382.00 to $300.00 in a report on Wednesday, June 26th. TD Cowen decreased their price objective on Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Finally, Barclays reduced their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $352.33.

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.