Avidian Wealth Solutions LLC Sells 49 Shares of Accenture plc (NYSE:ACN)

Avidian Wealth Solutions LLC reduced its stake in Accenture plc (NYSE:ACN) by 1.8% during the 1st quarter, HoldingsChannel reports. The fund owned 2,601 shares of the information technology services provider’s stock after selling 49 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Accenture were worth $901,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Chilton Capital Management LLC increased its stake in Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Accenture in the 4th quarter valued at $27,000. Annapolis Financial Services LLC increased its stake in Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Accenture in the 4th quarter valued at $29,000. Finally, Atwood & Palmer Inc. increased its stake in Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Trading Down 0.9 %

NYSE ACN traded down $2.58 during trading on Wednesday, reaching $295.48. The company’s stock had a trading volume of 2,282,959 shares, compared to its average volume of 2,891,228. The firm has a market capitalization of $185.17 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.34 and a beta of 1.23. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The firm has a 50 day moving average price of $299.08 and a 200 day moving average price of $333.95.

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 analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same period last year, the company posted $3.19 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at approximately $4,208,606.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at approximately $4,208,606.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,083 shares of company stock valued at $6,302,285. Company insiders own 0.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACN shares. Wedbush lowered their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Susquehanna lowered their price objective on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Mizuho lowered their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Stifel Nicolaus lowered their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. Finally, Barclays lowered their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Accenture has a consensus rating of “Hold” and a consensus target price of $351.82.

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.