Valley Wealth Managers Inc. Sells 1,630 Shares of Accenture plc (NYSE:ACN)

Valley Wealth Managers Inc. decreased its holdings in shares of Accenture plc (NYSE:ACN) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 57,229 shares of the information technology services provider’s stock after selling 1,630 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Accenture were worth $17,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pin Oak Investment Advisors Inc. increased its stake in Accenture by 8.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after buying an additional 27 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its stake in Accenture by 2.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock worth $478,000 after buying an additional 28 shares in the last quarter. IronBridge Private Wealth LLC increased its stake in Accenture by 2.3% in the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock worth $433,000 after buying an additional 28 shares in the last quarter. Kolinsky Wealth Management LLC increased its stake in Accenture by 1.0% in the 4th quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock worth $1,013,000 after buying an additional 30 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC increased its stake in Accenture by 0.3% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after buying an additional 32 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price target for the company. Piper Sandler Companies cut their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Mizuho cut their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Stifel Nicolaus cut 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. Finally, Robert W. Baird dropped their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $354.68.

Insider Buying and Selling

In other Accenture 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 sale, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $329.82, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the firm’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 transaction, the chief executive officer now owns 11,819 shares in the company, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 in the last 90 days. Insiders own 0.07% of the company’s stock.

Accenture Trading Down 0.1 %

Shares of ACN stock opened at $349.90 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The business’s fifty day simple moving average is $327.07 and its 200-day simple moving average is $324.00. The company has a market cap of $219.28 billion, a PE ratio of 32.04, a PEG ratio of 3.60 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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). The business had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. Accenture’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. On average, equities analysts forecast that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, July 11th. 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.