Bar Harbor Wealth Management Sells 553 Shares of Accenture plc (NYSE:ACN)

Bar Harbor Wealth Management lessened its position in shares of Accenture plc (NYSE:ACN) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,167 shares of the information technology services provider’s stock after selling 553 shares during the period. Bar Harbor Wealth Management’s holdings in Accenture were worth $4,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ACN. Visionary Wealth Advisors lifted its holdings in shares of Accenture by 3.5% in the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after buying an additional 26 shares during the period. Vivaldi Capital Management LP raised its holdings in shares of Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock valued at $292,000 after acquiring an additional 27 shares in the last quarter. FPC Investment Advisory Inc. lifted its stake in Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the period. New England Professional Planning Group Inc. grew its holdings in Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after acquiring an additional 29 shares in the last quarter. Finally, Nemes Rush Group LLC raised its holdings in shares of Accenture by 7.5% in the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock valued at $147,000 after purchasing an additional 29 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ACN shares. Mizuho dropped their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Barclays dropped their target price on Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. UBS Group restated a “buy” rating and set a $395.00 price objective (up from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Piper Sandler dropped their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $382.15.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel now directly owns 17,237 shares in the company, valued at $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company’s stock.

Accenture Price Performance

NYSE ACN opened at $318.02 on Friday. The company has a market cap of $199.19 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.23 and a beta of 1.33. 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 stock’s fifty day moving average price is $304.89 and its 200 day moving average price is $336.13. Accenture plc has a 1 year low of $275.01 and a 1 year high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $2.77 earnings per share. As a group, equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

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

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.