GFG Capital LLC Purchases 8,118 Shares of Accenture plc (NYSE:ACN)

GFG Capital LLC increased its position in shares of Accenture plc (NYSE:ACN) by 519.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,682 shares of the information technology services provider’s stock after buying an additional 8,118 shares during the period. Accenture accounts for approximately 0.8% of GFG Capital LLC’s holdings, making the stock its 27th biggest position. GFG Capital LLC’s holdings in Accenture were worth $2,938,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ACN. Freedom Day Solutions LLC boosted its holdings in Accenture by 3.8% during the second quarter. Freedom Day Solutions LLC now owns 9,487 shares of the information technology services provider’s stock valued at $2,878,000 after acquiring an additional 345 shares during the period. West Coast Financial LLC lifted its position in shares of Accenture by 0.9% during the 2nd quarter. West Coast Financial LLC now owns 34,215 shares of the information technology services provider’s stock worth $10,381,000 after purchasing an additional 298 shares during the last quarter. Carnegie Investment Counsel boosted its stake in Accenture by 2.4% during the 2nd quarter. Carnegie Investment Counsel now owns 89,959 shares of the information technology services provider’s stock valued at $27,295,000 after purchasing an additional 2,092 shares during the period. Sunpointe LLC grew its holdings in Accenture by 5.3% in the 2nd quarter. Sunpointe LLC now owns 741 shares of the information technology services provider’s stock valued at $225,000 after buying an additional 37 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of Accenture by 4.8% during the second quarter. Pallas Capital Advisors LLC now owns 17,574 shares of the information technology services provider’s stock worth $5,766,000 after buying an additional 801 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other news, 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the transaction, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock worth $6,912,635 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ACN shares. The Goldman Sachs Group started coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 target price on the stock. Susquehanna cut their price objective on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Jefferies Financial Group decreased their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Wedbush reduced their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Finally, Piper Sandler lowered their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $351.82.

Accenture Stock Up 0.2 %

NYSE:ACN traded up $0.77 on Tuesday, reaching $330.21. The stock had a trading volume of 1,790,095 shares, compared to its average volume of 2,866,953. The company has a market capitalization of $206.94 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a fifty day moving average price of $311.90 and a 200-day moving average price of $326.99.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 during the quarter, compared to analyst estimates of $16.55 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a $1.29 dividend. The ex-dividend date was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.56%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

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.