Accenture plc (NYSE:ACN) Shares Sold by Cwm LLC

Cwm LLC reduced its holdings in Accenture plc (NYSE:ACN) by 3.8% during the 2nd quarter, Holdings Channel reports. The fund owned 93,718 shares of the information technology services provider’s stock after selling 3,683 shares during the quarter. Cwm LLC’s holdings in Accenture were worth $28,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ACN. Allworth Financial LP increased its position in Accenture by 0.5% in the 4th quarter. Allworth Financial LP now owns 6,062 shares of the information technology services provider’s stock valued at $2,127,000 after acquiring an additional 30 shares during the period. 180 Wealth Advisors LLC increased its position in shares of Accenture by 85.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 1,254 shares of the information technology services provider’s stock valued at $435,000 after purchasing an additional 576 shares during the period. Firethorn Wealth Partners LLC acquired a new position in shares of Accenture during the 4th quarter valued at $296,000. One Wealth Management Investment & Advisory Services LLC acquired a new position in shares of Accenture during the 4th quarter valued at $1,137,000. Finally, First Merchants Corp increased its position in shares of Accenture by 2.5% during the 4th quarter. First Merchants Corp now owns 47,031 shares of the information technology services provider’s stock valued at $16,503,000 after purchasing an additional 1,153 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were 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 owns 11,819 shares in the company, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock worth $6,912,635 over the last three months. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACN. Susquehanna lowered their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Robert W. Baird lowered their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. TD Cowen decreased their target price on Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Barclays decreased their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Finally, Wedbush decreased their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $351.82.

Accenture Price Performance

Shares of NYSE ACN traded down $0.43 during trading hours on Wednesday, hitting $318.25. 2,327,421 shares of the company’s stock were exchanged, compared to its average volume of 2,918,304. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a market capitalization of $199.45 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 3.66 and a beta of 1.23. The company’s 50-day moving average price is $306.05 and its 200-day moving average price is $330.11.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $16.55 billion. During the same period in the prior year, the firm posted $3.19 EPS. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.62%. Accenture’s dividend payout ratio is 47.25%.

Accenture 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.