Accenture PLC $ACN Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in shares of Accenture PLC (NYSE:ACN) by 44.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,509 shares of the information technology services provider’s stock after selling 40,384 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Accenture were worth $13,552,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACN. Board of the Pension Protection Fund acquired a new position in shares of Accenture in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $27,000. Triumph Capital Management acquired a new position in shares of Accenture in the third quarter valued at approximately $26,000. Private Wealth Management Group LLC raised its position in shares of Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 53 shares during the last quarter. Finally, Steph & Co. boosted its holdings in shares of Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

ACN stock opened at $176.47 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $322.86. The firm has a market cap of $117.43 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The stock has a 50-day simple moving average of $188.93 and a 200-day simple moving average of $230.14.

Accenture (NYSE:ACN) last announced its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. On average, equities analysts predict that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.7%. Accenture’s dividend payout ratio is presently 53.40%.

Insider Transactions at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer owned 12,802 shares of the company’s stock, valued at $2,267,746.28. The trade was a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. Robert W. Baird decreased their price objective on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Guggenheim dropped their price objective on shares of Accenture from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, March 20th. TD Cowen dropped their price objective on shares of Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. upped their price objective on shares of Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Finally, Royal Bank Of Canada dropped their price objective on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $274.50.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.