Accenture plc (NYSE:ACN) Shares Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC lifted its holdings in shares of Accenture plc (NYSE:ACN) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,783 shares of the information technology services provider’s stock after buying an additional 700 shares during the period. Parcion Private Wealth LLC’s holdings in Accenture were worth $4,789,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ACN. Cobblestone Capital Advisors LLC NY lifted its position in Accenture by 3.0% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 2,137 shares of the information technology services provider’s stock worth $648,000 after acquiring an additional 63 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of Accenture by 9.8% during the second quarter. SRS Capital Advisors Inc. now owns 2,496 shares of the information technology services provider’s stock worth $757,000 after purchasing an additional 223 shares during the period. Oxbow Advisors LLC grew its position in Accenture by 1.7% in the 2nd quarter. Oxbow Advisors LLC now owns 24,529 shares of the information technology services provider’s stock valued at $7,442,000 after buying an additional 412 shares during the last quarter. Motiv8 Investments LLC increased its stake in Accenture by 24.7% in the 2nd quarter. Motiv8 Investments LLC now owns 2,084 shares of the information technology services provider’s stock valued at $632,000 after buying an additional 413 shares during the period. Finally, Chicago Capital LLC lifted its stake in shares of Accenture by 6.5% in the 2nd quarter. Chicago Capital LLC now owns 13,491 shares of the information technology services provider’s stock worth $4,093,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

NYSE:ACN traded down $1.09 on Friday, reaching $339.84. The stock had a trading volume of 1,613,563 shares, compared to its average volume of 2,781,811. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market cap of $212.98 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 3.81 and a beta of 1.24. The firm’s fifty day moving average is $323.63 and its two-hundred day moving average is $324.57.

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

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler dropped their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Stifel Nicolaus cut their target price on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Mizuho decreased their price target on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on Accenture in a research report on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective for the company. Finally, UBS Group raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Friday, July 19th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.41.

About Accenture

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.