NTV Asset Management LLC Sells 875 Shares of Accenture PLC (NYSE:ACN)

NTV Asset Management LLC lessened its position in shares of Accenture PLC (NYSE:ACN) by 34.2% in the 1st quarter, HoldingsChannel reports. The fund owned 1,684 shares of the information technology services provider’s stock after selling 875 shares during the period. NTV Asset Management LLC’s holdings in Accenture were worth $525,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ACN. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new position in Accenture during the 4th quarter valued at approximately $31,000. Inlight Wealth Management LLC acquired a new position in Accenture during the 1st quarter valued at approximately $32,000. Capital A Wealth Management LLC acquired a new position in Accenture during the 4th quarter valued at approximately $34,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Accenture during the 4th quarter valued at approximately $35,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ACN shares. Wall Street Zen lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Benchmark restated a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. Argus set a $370.00 price target on shares of Accenture in a research note on Tuesday, June 24th. Guggenheim cut their price target on shares of Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, June 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday, June 23rd. Seven 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $370.71.

Accenture Stock Performance

Shares of NYSE ACN opened at $303.27 on Wednesday. The company’s fifty day moving average price is $309.78 and its 200 day moving average price is $328.62. Accenture PLC has a 1 year low of $273.19 and a 1 year high of $398.35. The company has a market capitalization of $189.95 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.17. The business had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $3.13 earnings per share. On average, research analysts predict that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture’s payout ratio is 47.13%.

Insider Activity at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the transaction, the chief operating officer directly owned 15,882 shares of the company’s stock, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the transaction, the general counsel directly owned 17,237 shares in the company, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,516 shares of company stock valued at $2,507,366. 0.02% of the stock is currently owned by company insiders.

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.