Arlington Partners LLC Sells 1,020 Shares of Accenture PLC (NYSE:ACN)

Arlington Partners LLC decreased its holdings in shares of Accenture PLC (NYSE:ACN) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,695 shares of the information technology services provider’s stock after selling 1,020 shares during the period. Arlington Partners LLC’s holdings in Accenture were worth $3,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new position in Accenture during the fourth quarter worth about $30,000. Park Square Financial Group LLC bought a new position in Accenture during the fourth quarter worth about $31,000. Inlight Wealth Management LLC bought a new position in Accenture during the first quarter worth about $32,000. Finally, Promus Capital LLC bought a new position in Accenture during the fourth quarter worth about $34,000. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN opened at $300.66 on Wednesday. The company has a fifty day moving average price of $307.33 and a two-hundred day moving average price of $332.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. Accenture PLC has a 52 week low of $273.19 and a 52 week high of $398.35. The firm has a market capitalization of $188.31 billion, a PE ratio of 23.94, a P/E/G ratio of 2.94 and a beta of 1.33.

Accenture (NYSE:ACN) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the business earned $3.13 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, July 10th. Accenture’s dividend payout ratio (DPR) is 47.13%.

Insider Activity

In related news, General Counsel Joel Unruch sold 3,563 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the sale, the general counsel now directly owns 17,237 shares of the company’s stock, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 5,364 shares in the company, valued at $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of Accenture from $365.00 to $348.00 and set an “outperform” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Guggenheim dropped their price objective on shares of Accenture from $360.00 to $335.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets dropped their price objective on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a report on Monday. Finally, Wall Street Zen lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $370.75.

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.