Silverlake Wealth Management LLC Sells 139 Shares of Accenture plc (NYSE:ACN)

Silverlake Wealth Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 10.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,161 shares of the information technology services provider’s stock after selling 139 shares during the period. Silverlake Wealth Management LLC’s holdings in Accenture were worth $402,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Chilton Capital Management LLC boosted its stake in shares of Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Accenture during the fourth quarter valued at approximately $27,000. Annapolis Financial Services LLC increased its position in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Accenture during the 4th quarter worth approximately $29,000. Finally, Atwood & Palmer Inc. boosted its holdings in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now directly owns 30,702 shares in the company, valued at approximately $9,705,516.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now directly owns 30,702 shares in the company, valued at approximately $9,705,516.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is currently owned by insiders.

Accenture Trading Up 0.4 %

Shares of NYSE:ACN opened at $303.83 on Wednesday. The stock has a market capitalization of $190.41 billion, a PE ratio of 27.82, a PEG ratio of 3.38 and a beta of 1.23. The firm has a 50 day moving average of $299.86 and a 200-day moving average of $335.76. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

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

Accenture Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen dropped their target price on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Susquehanna reduced their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. Citigroup reduced their price objective on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Jefferies Financial Group cut their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $352.74.

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.