Valeo Financial Advisors LLC Purchases 876 Shares of Accenture plc (NYSE:ACN)

Valeo Financial Advisors LLC lifted its position in shares of Accenture plc (NYSE:ACN) by 12.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 7,830 shares of the information technology services provider’s stock after buying an additional 876 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Accenture were worth $2,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Azzad Asset Management Inc. ADV boosted its holdings in Accenture by 0.9% in the first quarter. Azzad Asset Management Inc. ADV now owns 6,381 shares of the information technology services provider’s stock worth $2,212,000 after purchasing an additional 54 shares during the last quarter. Hedeker Wealth LLC boosted its holdings in Accenture by 0.4% in the first quarter. Hedeker Wealth LLC now owns 13,703 shares of the information technology services provider’s stock worth $4,750,000 after purchasing an additional 49 shares during the last quarter. Integrity Wealth Solutions LLC purchased a new stake in Accenture in the first quarter worth approximately $255,000. Plimoth Trust Co. LLC boosted its holdings in Accenture by 10.0% in the first quarter. Plimoth Trust Co. LLC now owns 4,592 shares of the information technology services provider’s stock worth $1,592,000 after purchasing an additional 419 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its holdings in Accenture by 8.6% in the first quarter. SeaCrest Wealth Management LLC now owns 1,685 shares of the information technology services provider’s stock worth $584,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on 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 owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was 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 of the company’s stock, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,083 shares of company stock worth $6,302,285. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. TD Cowen dropped their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Deutsche Bank Aktiengesellschaft cut shares of Accenture from a “buy” rating to a “hold” rating and dropped their price target for the stock from $409.00 to $295.00 in a research note on Wednesday, May 15th. Mizuho dropped their price target on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Finally, Robert W. Baird dropped their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $352.74.

Accenture Stock Up 0.6 %

Accenture stock opened at $305.75 on Thursday. The company’s 50-day moving average price is $299.60 and its 200-day moving average price is $335.48. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The company has a market cap of $191.61 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23.

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

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be issued a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.69%. Accenture’s payout ratio is 47.25%.

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.