Fiduciary Alliance LLC Buys 45 Shares of Accenture plc (NYSE:ACN)

Fiduciary Alliance LLC lifted its position in shares of Accenture plc (NYSE:ACN) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the information technology services provider’s stock after purchasing an additional 45 shares during the period. Fiduciary Alliance LLC’s holdings in Accenture were worth $407,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. boosted its position in Accenture by 7.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock worth $10,248,000 after purchasing an additional 2,008 shares during the last quarter. TrinityPoint Wealth LLC grew its position in Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after buying an additional 125 shares during the period. Buckingham Capital Management Inc. increased its holdings in Accenture by 3.4% during the fourth quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock worth $9,671,000 after buying an additional 900 shares during the last quarter. Ameriprise Financial Inc. raised its position in Accenture by 2.3% in the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after acquiring an additional 96,414 shares during the period. Finally, Redwood Investments LLC grew its position in shares of Accenture by 8.3% during the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after acquiring an additional 1,542 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction on Friday, April 12th. The shares were 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 directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares in the company, valued at approximately $13,518,796. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is currently owned by insiders.

Accenture Stock Up 0.1 %

Shares of ACN stock opened at $303.41 on Monday. The firm has a market cap of $203.51 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.38 and a beta of 1.21. The business has a 50-day moving average price of $300.17 and a two-hundred day moving average price of $336.05. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51.

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

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio is presently 47.25%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ACN. Jefferies Financial Group lowered their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Stifel Nicolaus lowered their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Piper Sandler cut their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Bank of America lowered their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Robert W. Baird reduced their price objective on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Twelve analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $352.74.

Accenture 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.