Union Savings Bank lowered its stake in Accenture PLC (NYSE:ACN – Free Report) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,764 shares of the information technology services provider’s stock after selling 254 shares during the quarter. Union Savings Bank’s holdings in Accenture were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Accenture in the first quarter worth approximately $31,000. RMG Wealth Management LLC purchased a new stake in Accenture in the 2nd quarter worth approximately $33,000. WPG Advisers LLC acquired a new stake in shares of Accenture during the 1st quarter valued at $42,000. Cheviot Value Management LLC purchased a new position in shares of Accenture during the 1st quarter valued at $43,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in shares of Accenture in the first quarter worth $45,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.
Accenture Stock Performance
Accenture stock opened at $245.29 on Friday. The firm has a market capitalization of $161.52 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.16 and a beta of 1.28. The stock has a fifty day moving average price of $244.66 and a two-hundred day moving average price of $273.22. Accenture PLC has a 52-week low of $229.40 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.42 and a quick ratio of 1.42.
Accenture Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 10th were paid a $1.63 dividend. This is a boost from Accenture’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Friday, October 10th. This represents a $6.52 annualized dividend and a dividend yield of 2.7%. Accenture’s payout ratio is 53.66%.
Insider Transactions at Accenture
In other Accenture news, CEO Julie Spellman Sweet sold 5,917 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $246.62, for a total value of $1,459,250.54. Following the transaction, the chief executive officer directly owned 8,599 shares of the company’s stock, valued at approximately $2,120,685.38. This trade represents a 40.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryoji Sekido sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $249.47, for a total value of $623,675.00. Following the completion of the transaction, the chief executive officer owned 1,390 shares in the company, valued at $346,763.30. This represents a 64.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,319 shares of company stock worth $8,335,225 in the last quarter. 0.02% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages recently commented on ACN. Guggenheim lowered their price target on Accenture from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, September 26th. BMO Capital Markets reduced their price target on Accenture from $325.00 to $270.00 and set a “market perform” rating for the company in a research report on Friday, September 26th. Evercore ISI set a $280.00 price objective on Accenture in a research note on Thursday, September 25th. Morgan Stanley decreased their target price on Accenture from $325.00 to $271.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 9th. Finally, Stifel Nicolaus cut their price objective on Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $294.25.
Get Our Latest Stock Analysis on Accenture
Accenture Profile
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.
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