Graypoint LLC Has $2.79 Million Stock Holdings in Accenture PLC (NYSE:ACN)

Graypoint LLC lessened its holdings in Accenture PLC (NYSE:ACN) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,927 shares of the information technology services provider’s stock after selling 653 shares during the period. Graypoint LLC’s holdings in Accenture were worth $2,786,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture during the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $34,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Accenture in the fourth quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Accenture in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Trading Up 1.3%

Shares of NYSE:ACN opened at $279.72 on Thursday. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $307.35 and its 200 day simple moving average is $325.69. The firm has a market cap of $175.20 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.59 and a beta of 1.29.

Accenture (NYSE:ACN) last issued its quarterly earnings data 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 business had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the business posted $3.13 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.12%. Accenture’s payout ratio is currently 47.13%.

Insider Buying and Selling at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer directly owned 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares in the company, valued at $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,454 shares of company stock valued at $1,646,780 over the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACN has been the subject of a number of research reports. Royal Bank Of Canada lowered their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. BMO Capital Markets lowered their price target on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a report on Monday, June 23rd. Mizuho set a $348.00 price objective on shares of Accenture and gave the company an “outperform” rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a research note on Monday, June 16th. Finally, Guggenheim reduced their price objective 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. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $370.71.

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.