Accenture plc (NYSE:ACN) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC decreased its position in Accenture plc (NYSE:ACN) by 72.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,549 shares of the information technology services provider’s stock after selling 6,828 shares during the period. Belpointe Asset Management LLC’s holdings in Accenture were worth $774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Consolidated Planning Corp lifted its stake in shares of Accenture by 27.2% during the second quarter. Consolidated Planning Corp now owns 1,235 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 264 shares during the period. Strategy Asset Managers LLC grew its position in shares of Accenture by 5.0% in the second quarter. Strategy Asset Managers LLC now owns 12,850 shares of the information technology services provider’s stock valued at $3,965,000 after purchasing an additional 613 shares during the period. Thomas Story & Son LLC increased its stake in Accenture by 0.5% in the second quarter. Thomas Story & Son LLC now owns 31,525 shares of the information technology services provider’s stock valued at $9,565,000 after purchasing an additional 170 shares during the last quarter. Simon Quick Advisors LLC lifted its position in Accenture by 3.3% during the second quarter. Simon Quick Advisors LLC now owns 3,581 shares of the information technology services provider’s stock worth $1,087,000 after buying an additional 115 shares during the period. Finally, Founders Financial Securities LLC boosted its stake in Accenture by 78.6% in the 2nd quarter. Founders Financial Securities LLC now owns 4,395 shares of the information technology services provider’s stock worth $1,333,000 after buying an additional 1,934 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Price Performance

NYSE:ACN opened at $340.99 on Friday. The firm has a 50-day moving average of $322.91 and a two-hundred day moving average of $324.78. The stock has a market cap of $213.70 billion, a P/E ratio of 31.23, a PEG ratio of 3.81 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. During the same quarter last year, the business earned $3.19 EPS. Accenture’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction on Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at $12,149,550. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction on Friday, July 12th. The stock was 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 $3,652,661.95. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock valued at $6,912,635 in the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, June 21st. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Friday, July 19th. Wedbush dropped their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Bank of America reduced their target price on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Guggenheim restated a “buy” rating and issued a $395.00 price objective on shares of Accenture in a report on Friday, May 24th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $352.33.

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.