Lindenwold Advisors Has $3.20 Million Position in Accenture plc (NYSE:ACN)

Lindenwold Advisors lifted its holdings in Accenture plc (NYSE:ACNGet Rating) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,494 shares of the information technology services provider’s stock after acquiring an additional 56 shares during the period. Accenture accounts for about 2.0% of Lindenwold Advisors’ portfolio, making the stock its 10th biggest holding. Lindenwold Advisors’ holdings in Accenture were worth $3,202,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Equitable Holdings Inc. boosted its stake in Accenture by 24.7% during the fourth quarter. Equitable Holdings Inc. now owns 1,334 shares of the information technology services provider’s stock valued at $553,000 after buying an additional 264 shares during the last quarter. MBL Wealth LLC bought a new position in Accenture during the first quarter valued at approximately $284,000. Hazlett Burt & Watson Inc. purchased a new stake in Accenture during the first quarter valued at approximately $112,000. SkyView Investment Advisors LLC raised its position in Accenture by 697.5% during the fourth quarter. SkyView Investment Advisors LLC now owns 25,032 shares of the information technology services provider’s stock valued at $797,000 after purchasing an additional 21,893 shares during the period. Finally, Mayflower Financial Advisors LLC raised its position in Accenture by 6.0% during the first quarter. Mayflower Financial Advisors LLC now owns 1,508 shares of the information technology services provider’s stock valued at $509,000 after purchasing an additional 86 shares during the period. Institutional investors own 74.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ACN shares. Cowen decreased their price objective on Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. Bank of America reduced their price target on Accenture from $443.00 to $374.00 and set a “buy” rating on the stock in a report on Friday, June 17th. Citigroup reduced their price target on Accenture from $400.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Piper Sandler reduced their price target on Accenture from $305.00 to $281.00 and set a “neutral” rating on the stock in a report on Monday, July 18th. Finally, Robert W. Baird reduced their price target on Accenture from $340.00 to $310.00 and set a “neutral” rating on the stock in a report on Friday, June 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average target price of $358.84.

Insider Transactions at Accenture

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the sale, the insider now owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Julie Spellman Sweet sold 3,278 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $888,108.54. Following the completion of the transaction, the chief executive officer now owns 16,978 shares in the company, valued at approximately $4,599,849.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $270.93, for a total value of $1,693,312.50. Following the completion of the transaction, the insider now owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. Insiders sold 11,389 shares of company stock valued at $3,132,777 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Accenture Price Performance

NYSE ACN traded down $2.48 during midday trading on Friday, hitting $308.13. 44,164 shares of the company traded hands, compared to its average volume of 1,822,650. The company has a market cap of $194.91 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 2.89 and a beta of 1.22. The company’s 50-day simple moving average is $288.02 and its 200-day simple moving average is $308.87. Accenture plc has a 52 week low of $261.77 and a 52 week high of $417.37.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings data on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.05). The business had revenue of $16.16 billion during the quarter, compared to analyst estimates of $16.05 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. During the same period in the previous year, the business earned $2.40 EPS. On average, research analysts predict that Accenture plc will post 10.68 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Thursday, July 14th will be given a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.26%. Accenture’s payout ratio is 37.63%.

About Accenture

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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