Syntegra Private Wealth Group LLC Trims Stock Position in Accenture PLC (NYSE:ACN)

Syntegra Private Wealth Group LLC trimmed its holdings in shares of Accenture PLC (NYSE:ACN) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,334 shares of the information technology services provider’s stock after selling 59 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Accenture were worth $728,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ACN. GAMMA Investing LLC raised its stake in shares of Accenture by 30,256.8% during the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock worth $1,067,651,000 after buying an additional 3,410,248 shares in the last quarter. Capital Research Global Investors increased its stake in 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 valued at $4,325,526,000 after purchasing an additional 1,770,024 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Accenture by 2,782.1% during the 1st quarter. Pacer Advisors Inc. now owns 1,445,281 shares of the information technology services provider’s stock valued at $450,985,000 after buying an additional 1,395,135 shares during the last quarter. Northern Trust Corp grew its holdings in Accenture by 10.7% during the 4th quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider’s stock valued at $2,667,393,000 after buying an additional 732,769 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Accenture during the 4th quarter valued at $225,217,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACN has been the topic of a number of analyst reports. Piper Sandler lowered their target price on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley lowered their target price on Accenture from $340.00 to $325.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 24th. Argus set a $370.00 price objective on Accenture in a report on Tuesday, June 24th. Hsbc Global Res upgraded Accenture to a “moderate sell” rating in a report on Monday, July 28th. Finally, Guggenheim decreased their price objective on Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $360.21.

Insider Buying and Selling

In other news, insider Angela Beatty sold 203 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider owned 5,249 shares in the company, valued at $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $812,500.00. Following the completion of the sale, the chief operating officer owned 15,882 shares of the company’s stock, valued at $5,161,650. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,454 shares of company stock worth $1,646,780 over the last quarter. 0.02% of the stock is currently owned by insiders.

Accenture Stock Performance

ACN opened at $258.56 on Tuesday. The company has a market capitalization of $161.95 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.32 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. Accenture PLC has a 1-year low of $254.20 and a 1-year high of $398.35. The business has a 50 day moving average price of $296.96 and a two-hundred day moving average price of $318.45.

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 analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the prior year, the firm earned $3.13 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Research analysts predict 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. Stockholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, July 10th. Accenture’s dividend payout ratio is 47.13%.

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.