Mather Group LLC. Sells 2,078 Shares of Accenture plc (NYSE:ACN)

Mather Group LLC. cut its stake in Accenture plc (NYSE:ACN) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,953 shares of the information technology services provider’s stock after selling 2,078 shares during the period. Mather Group LLC.’s holdings in Accenture were worth $3,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Accenture in the fourth quarter valued at approximately $2,061,490,000. Swedbank AB acquired a new stake in shares of Accenture in the first quarter valued at about $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Accenture by 100.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after purchasing an additional 875,723 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Accenture in the 4th quarter valued at approximately $288,168,000. Finally, Generation Investment Management LLP acquired a new stake in Accenture in the fourth quarter valued at $286,220,000. 75.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ACN. Wedbush cut their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. TD Cowen lowered their price objective on shares of Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a research report on Friday, June 21st. Stifel Nicolaus dropped their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Bank of America lowered their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Mizuho reduced their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $351.82.

Accenture Trading Up 1.6 %

Accenture stock traded up $5.10 during mid-day trading on Tuesday, hitting $318.84. The company had a trading volume of 2,284,242 shares, compared to its average volume of 2,922,226. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a market capitalization of $199.81 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. The stock’s 50 day moving average price is $305.63 and its two-hundred day moving average price is $330.43.

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

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a dividend of $1.29 per share. The ex-dividend date is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.62%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on 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 sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by corporate insiders.

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.