Elite Wealth Management Inc. Sells 412 Shares of Accenture plc (NYSE:ACN)

Elite Wealth Management Inc. lowered its holdings in shares of Accenture plc (NYSE:ACN) by 39.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 641 shares of the information technology services provider’s stock after selling 412 shares during the period. Elite Wealth Management Inc.’s holdings in Accenture were worth $225,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ACN. Chilton Capital Management LLC raised its stake in Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Accenture during the first quarter worth $28,000. BluePath Capital Management LLC bought a new position in Accenture during the third quarter worth $31,000. Halpern Financial Inc. acquired a new stake in Accenture in the fourth quarter worth $31,000. Finally, RVW Wealth LLC acquired a new stake in Accenture in the third quarter worth $33,000. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.83, for a total value of $1,611,139.39. Following the completion of the sale, the general counsel now owns 34,795 shares of the company’s stock, valued at approximately $12,937,824.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock valued at $11,146,998 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

Accenture Trading Up 0.2 %

Shares of NYSE ACN traded up $0.67 during midday trading on Wednesday, hitting $313.94. The company’s stock had a trading volume of 2,900,382 shares, compared to its average volume of 3,239,222. The stock has a fifty day moving average price of $358.39 and a 200 day moving average price of $342.14. Accenture plc has a one year low of $261.68 and a one year high of $387.51. The firm has a market capitalization of $210.57 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 2.97 and a beta of 1.19.

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

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be paid a $1.29 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.64%. Accenture’s dividend payout ratio is presently 46.78%.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of research reports. Mizuho restated a “buy” rating and issued a $398.00 price target (down from $426.00) on shares of Accenture in a report on Friday, March 22nd. Guggenheim initiated coverage on shares of Accenture in a report on Tuesday, March 19th. They issued a “buy” rating and a $425.00 price target for the company. Robert W. Baird raised their price target on shares of Accenture from $364.00 to $375.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Bank of America raised their price target on shares of Accenture from $379.00 to $419.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Piper Sandler lifted their price objective on shares of Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $387.00.

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.