Cable Hill Partners LLC Acquires 62 Shares of Accenture PLC (NYSE:ACN)

Cable Hill Partners LLC raised its position in Accenture PLC (NYSE:ACN) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,605 shares of the information technology services provider’s stock after acquiring an additional 62 shares during the period. Cable Hill Partners LLC’s holdings in Accenture were worth $482,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its holdings in shares of Accenture by 16.8% in the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock worth $4,325,526,000 after buying an additional 1,770,024 shares in the last quarter. Alteri Wealth LLC bought a new position in Accenture in the 4th quarter valued at $321,000. Proficio Capital Partners LLC boosted its position in shares of Accenture by 47.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider’s stock worth $861,000 after purchasing an additional 789 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Accenture by 62.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider’s stock worth $282,000 after purchasing an additional 347 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Accenture in the 4th quarter worth $317,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 1.3%

Shares of ACN opened at $276.21 on Wednesday. Accenture PLC has a one year low of $273.19 and a one year high of $398.35. The company has a market cap of $173.00 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.63 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a 50 day simple moving average of $307.88 and a two-hundred day simple moving average of $326.01.

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

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.14%. Accenture’s payout ratio is 47.13%.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent analyst reports. Mizuho set a $348.00 target price on Accenture and gave the stock an “outperform” rating in a report on Tuesday, June 24th. Guggenheim dropped their price target on Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, June 23rd. Barclays dropped their price target on Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a research note on Monday, June 23rd. JPMorgan Chase & Co. lifted their price target on Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a research note on Monday, June 16th. Finally, Benchmark reissued a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average target price of $370.71.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 203 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares in the company, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer owned 15,882 shares of the company’s stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,454 shares of company stock valued at $1,646,780. Company insiders own 0.02% of the company’s stock.

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.