Pinnacle Wealth Management Advisory Group LLC Lowers Stock Holdings in Accenture PLC (NYSE:ACN)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in Accenture PLC (NYSE:ACN) by 12.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,390 shares of the information technology services provider’s stock after selling 605 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Accenture were worth $1,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Mpwm Advisory Solutions LLC bought a new position in Accenture in the 4th quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new position in shares of Accenture in the fourth quarter worth $31,000. Capital A Wealth Management LLC bought a new position in shares of Accenture during the fourth quarter valued at $34,000. Inlight Wealth Management LLC bought a new stake in Accenture in the 1st quarter worth about $32,000. Finally, Navigoe LLC purchased a new position in Accenture in the 4th quarter worth about $37,000. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 2.2%

Shares of ACN stock opened at $277.01 on Tuesday. 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 one year low of $273.19 and a one year high of $398.35. The company’s fifty day moving average price is $301.75 and its 200-day moving average price is $321.36. The company has a market capitalization of $173.50 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.68 and a beta of 1.29.

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 return on equity of 26.55% and a net margin of 11.61%. The business had revenue of $17.73 billion for 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 business’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

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 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Thursday, July 10th. Accenture’s payout ratio is currently 47.13%.

Insider Activity at Accenture

In other news, CEO Mauro Macchi sold 500 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $141,170.00. Following the completion of the transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. This trade represents a 17.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John F. Walsh sold 2,500 shares of the business’s 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 completion of the sale, the chief operating officer owned 15,882 shares in the company, valued at $5,161,650. This represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,454 shares of company stock worth $1,646,780 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Benchmark reiterated a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. Evercore ISI initiated coverage on shares of Accenture in a research report on Thursday, July 17th. They issued an “outperform” rating and a $330.00 target price for the company. Mizuho set a $348.00 price target on Accenture and gave the company an “outperform” rating in a report on Tuesday, June 24th. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, BMO Capital Markets lowered their target price on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $360.21.

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.