Covenant Partners LLC Sells 404 Shares of Accenture plc (NYSE:ACN)

Covenant Partners LLC lowered its position in shares of Accenture plc (NYSE:ACNFree Report) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,222 shares of the information technology services provider’s stock after selling 404 shares during the quarter. Accenture comprises 0.7% of Covenant Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Covenant Partners LLC’s holdings in Accenture were worth $2,183,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Chilton Capital Management LLC boosted its position 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 valued at $25,000 after acquiring an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Accenture during the fourth quarter valued at $27,000. Halpern Financial Inc. bought a new stake in Accenture during the fourth quarter valued at $31,000. Laffer Tengler Investments Inc. raised its holdings in shares of Accenture by 142.9% during the fourth quarter. Laffer Tengler Investments Inc. now owns 102 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 60 shares during the period. Finally, Private Wealth Management Group LLC acquired a new position in shares of Accenture during the fourth quarter valued at about $43,000. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock traded up $4.40 on Friday, reaching $286.72. 2,966,104 shares of the company traded hands, compared to its average volume of 2,635,422. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a 50 day moving average of $304.35 and a 200 day moving average of $338.67. The firm has a market capitalization of $192.31 billion, a PE ratio of 25.99, a PEG ratio of 3.11 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm earned $2.69 EPS. As a group, analysts anticipate that Accenture plc will post 12.08 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACN. Mizuho reiterated a “buy” rating and set a $398.00 price objective (down previously from $426.00) on shares of Accenture in a report on Friday, March 22nd. Morgan Stanley upped their target price on shares of Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Royal Bank of Canada upped their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Bank of America lowered their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Wedbush lowered their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $367.50.

Get Our Latest Report on ACN

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares in the company, valued at approximately $51,045,053.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,083 shares of company stock valued at $8,959,325. Company insiders own 0.07% of the company’s stock.

Accenture Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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