Americana Partners LLC Increases Stock Holdings in Accenture plc (NYSE:ACN)

Americana Partners LLC grew its holdings in shares of Accenture plc (NYSE:ACN) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,123 shares of the information technology services provider’s stock after purchasing an additional 341 shares during the period. Americana Partners LLC’s holdings in Accenture were worth $948,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ACN. Pin Oak Investment Advisors Inc. grew its holdings in shares of Accenture by 8.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after acquiring an additional 27 shares during the period. Sound View Wealth Advisors Group LLC boosted its position in Accenture by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock worth $478,000 after purchasing an additional 28 shares in the last quarter. IronBridge Private Wealth LLC grew its holdings in Accenture by 2.3% in the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after purchasing an additional 28 shares during the last quarter. Kolinsky Wealth Management LLC increased its position in shares of Accenture by 1.0% in the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after buying an additional 30 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC boosted its position in shares of Accenture by 0.3% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets cut their target price on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, June 21st. Piper Sandler cut their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Mizuho lowered their target price on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Bank of America cut their price target on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, The Goldman Sachs Group started coverage on Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $352.33.

Insider Buying and Selling at Accenture

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

Accenture Stock Up 0.5 %

NYSE:ACN opened at $341.95 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The firm’s 50 day moving average is $319.98 and its two-hundred day moving average is $325.52. The company has a market cap of $214.30 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last issued 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 firm had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 EPS. Research analysts forecast that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 annualized dividend and a yield of 1.51%. Accenture’s payout ratio is 47.25%.

About Accenture

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.