Single Point Partners LLC Sells 271 Shares of Accenture plc (NYSE:ACN)

Single Point Partners LLC lowered its position in Accenture plc (NYSE:ACN) by 5.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,443 shares of the information technology services provider’s stock after selling 271 shares during the quarter. Single Point Partners LLC’s holdings in Accenture were worth $1,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. FPC Investment Advisory Inc. lifted its position in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC bought a new position in Accenture in the 4th quarter worth approximately $30,000. POM Investment Strategies LLC grew its holdings in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Accenture in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.7%

Shares of NYSE:ACN opened at $317.49 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50 day simple moving average of $303.15 and a two-hundred day simple moving average of $336.95. Accenture plc has a 1 year low of $275.01 and a 1 year high of $398.35. The firm has a market capitalization of $198.85 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.77 earnings per share. On average, equities analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.86%. Accenture’s dividend payout ratio (DPR) is 48.89%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACN. UBS Group reaffirmed a “buy” rating and set a $395.00 target price (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus decreased their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays cut their price target on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Mizuho reduced their price target on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $382.14.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the sale, the chief operating officer now directly owns 15,882 shares in the company, valued at approximately $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock worth $2,507,366 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Accenture Company 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.