Park Place Capital Corp Cuts Stock Position in Accenture plc (NYSE:ACN)

Park Place Capital Corp decreased its holdings in Accenture plc (NYSE:ACN) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,241 shares of the information technology services provider’s stock after selling 189 shares during the period. Park Place Capital Corp’s holdings in Accenture were worth $983,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new stake in Accenture during the 4th quarter valued at approximately $27,000. Annapolis Financial Services LLC grew its stake in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture in the 4th quarter worth $29,000. Atwood & Palmer Inc. lifted its position in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Accenture during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 in the last 90 days. 0.07% of the stock is owned by corporate insiders.

Accenture Stock Down 1.5 %

NYSE:ACN traded down $4.93 during mid-day trading on Friday, reaching $323.15. The company’s stock had a trading volume of 2,682,736 shares, compared to its average volume of 3,095,611. The firm has a market capitalization of $202.52 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. The stock has a fifty day moving average of $305.37 and a 200-day moving average of $330.75. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period last year, the firm earned $3.19 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.60%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACN. The Goldman Sachs Group started coverage on shares of Accenture in a report on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price for the company. BMO Capital Markets lowered their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, June 21st. Robert W. Baird decreased their price objective on Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Barclays dropped their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Finally, TD Cowen dropped their price objective on shares of Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $351.82.

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.