Valley Wealth Managers Inc. Sells 2,757 Shares of Accenture plc (NYSE:ACN)

Valley Wealth Managers Inc. decreased its position in shares of Accenture plc (NYSE:ACNFree Report) by 4.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,754 shares of the information technology services provider’s stock after selling 2,757 shares during the quarter. Accenture makes up 1.6% of Valley Wealth Managers Inc.’s holdings, making the stock its 18th largest holding. Valley Wealth Managers Inc.’s holdings in Accenture were worth $19,272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ACN. United Bank boosted its holdings in shares of Accenture by 6.3% during the 1st quarter. United Bank now owns 2,969 shares of the information technology services provider’s stock valued at $1,001,000 after purchasing an additional 176 shares during the last quarter. Weitz Investment Management Inc. grew its holdings in Accenture by 1.3% during the 1st quarter. Weitz Investment Management Inc. now owns 89,400 shares of the information technology services provider’s stock valued at $30,148,000 after purchasing an additional 1,168 shares during the last quarter. Fund Management at Engine No. 1 LLC purchased a new stake in shares of Accenture in the first quarter worth approximately $1,805,000. Guardian Wealth Management Inc. lifted its position in shares of Accenture by 0.6% during the first quarter. Guardian Wealth Management Inc. now owns 7,292 shares of the information technology services provider’s stock worth $2,459,000 after purchasing an additional 41 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Accenture by 104.8% during the 1st quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock valued at $148,871,000 after buying an additional 225,943 shares in the last quarter. Institutional investors own 70.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACN shares. BMO Capital Markets lifted their target price on Accenture from $350.00 to $385.00 and gave the company a “market perform” rating in a research report on Wednesday, December 20th. Morgan Stanley raised their target price on shares of Accenture from $369.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Wedbush boosted their price target on Accenture from $330.00 to $360.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Mizuho assumed coverage on shares of Accenture in a report on Tuesday, January 30th. They set a “buy” rating and a $426.00 price objective on the stock. Finally, BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price target on the stock in a report on Wednesday, January 17th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and an average price target of $361.63.

Get Our Latest Stock Report on Accenture

Accenture Stock Down 0.6 %

Accenture stock traded down $2.27 during trading on Monday, reaching $369.40. The stock had a trading volume of 204,842 shares, compared to its average volume of 1,999,901. Accenture plc has a 52-week low of $242.80 and a 52-week high of $375.73. The business has a 50 day moving average price of $353.19 and a 200 day moving average price of $328.29. The stock has a market cap of $231.73 billion, a PE ratio of 34.35, a P/E/G ratio of 3.42 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last issued its earnings results on Tuesday, December 19th. The information technology services provider reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.13. Accenture had a net margin of 10.65% and a return on equity of 29.08%. The firm had revenue of $16.22 billion during the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the previous year, the firm posted $3.08 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Accenture plc will post 12.22 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, January 18th will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, January 17th. Accenture’s payout ratio is 47.82%.

Insider Activity at Accenture

In related news, Director Paula A. Price sold 551 shares of Accenture stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $345.36, for a total transaction of $190,293.36. Following the sale, the director now directly owns 6,583 shares in the company, valued at approximately $2,273,504.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Paula A. Price sold 551 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $345.36, for a total value of $190,293.36. Following the completion of the sale, the director now directly owns 6,583 shares of the company’s stock, valued at approximately $2,273,504.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 2,070 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $370.32, for a total value of $766,562.40. Following the transaction, the chief financial officer now owns 47,110 shares in the company, valued at approximately $17,445,775.20. The disclosure for this sale can be found here. Insiders sold 26,551 shares of company stock valued at $9,739,791 over the last three months. 0.07% of the stock is owned by corporate insiders.

About Accenture

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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