Accenture plc (NYSE:ACN) Holdings Lowered by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC trimmed its stake in shares of Accenture plc (NYSE:ACN) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,744 shares of the information technology services provider’s stock after selling 110 shares during the period. Crescent Grove Advisors LLC’s holdings in Accenture were worth $612,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Flputnam Investment Management Co. raised its position in Accenture by 1.3% during the fourth quarter. Flputnam Investment Management Co. now owns 143,338 shares of the information technology services provider’s stock valued at $50,299,000 after buying an additional 1,834 shares during the period. Capital Analysts LLC increased its position in Accenture by 0.8% in the 4th quarter. Capital Analysts LLC now owns 9,982 shares of the information technology services provider’s stock worth $3,503,000 after purchasing an additional 75 shares during the last quarter. Legacy CG LLC increased its position in Accenture by 12.0% in the 4th quarter. Legacy CG LLC now owns 11,228 shares of the information technology services provider’s stock worth $3,940,000 after purchasing an additional 1,204 shares during the last quarter. Bison Wealth LLC increased its position in Accenture by 5.6% in the 4th quarter. Bison Wealth LLC now owns 5,292 shares of the information technology services provider’s stock worth $1,857,000 after purchasing an additional 282 shares during the last quarter. Finally, Hoxton Planning & Management LLC increased its holdings in shares of Accenture by 19.7% during the 4th quarter. Hoxton Planning & Management LLC now owns 1,764 shares of the information technology services provider’s stock valued at $619,000 after acquiring an additional 290 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ACN shares. Redburn Atlantic increased their price objective on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Robert W. Baird increased their price objective on Accenture from $364.00 to $375.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Bank of America increased their target price on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Royal Bank of Canada increased their target price on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, UBS Group raised their price objective on Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Insider Activity

In other news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.83, for a total value of $1,611,139.39. Following the transaction, the general counsel now owns 34,795 shares of the company’s stock, valued at $12,937,824.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the completion of the sale, the general counsel now directly owns 34,795 shares in the company, valued at $12,937,824.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $362.77, for a total value of $2,267,312.50. Following the completion of the transaction, the chief executive officer now owns 167,831 shares of the company’s stock, valued at $60,884,051.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,000 shares of company stock valued at $11,146,998. 0.07% of the stock is owned by insiders.

Accenture Stock Down 0.0 %

Shares of NYSE:ACN traded down $0.06 during midday trading on Tuesday, reaching $313.21. The company had a trading volume of 524,260 shares, compared to its average volume of 2,330,052. The business’s 50 day moving average price is $359.41 and its 200 day moving average price is $342.09. The stock has a market cap of $210.08 billion, a PE ratio of 28.41, a P/E/G ratio of 2.99 and a beta of 1.19. Accenture plc has a 1-year low of $261.68 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. Accenture’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 earnings per share. On average, research analysts expect that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

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.