Gryphon Financial Partners LLC Buys 622 Shares of Accenture plc (NYSE:ACN)

Gryphon Financial Partners LLC boosted its stake in Accenture plc (NYSE:ACN) by 21.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,554 shares of the information technology services provider’s stock after acquiring an additional 622 shares during the period. Gryphon Financial Partners LLC’s holdings in Accenture were worth $1,078,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ACN. Norges Bank bought a new stake in shares of Accenture in the fourth quarter valued at approximately $2,061,490,000. Swedbank AB bought a new stake in shares of Accenture in the first quarter valued at approximately $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Accenture by 100.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after purchasing an additional 875,723 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Accenture in the fourth quarter valued at approximately $288,168,000. Finally, Generation Investment Management LLP bought a new stake in shares of Accenture in the fourth quarter valued at approximately $286,220,000. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on 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 directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on 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 directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 in the last three months. 0.07% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ACN. The Goldman Sachs Group began coverage on shares of Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 target price on the stock. Piper Sandler Companies decreased their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Susquehanna cut their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Robert W. Baird cut their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Finally, Wedbush cut their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $353.41.

Accenture Stock Performance

Shares of Accenture stock opened at $341.81 on Tuesday. The company has a fifty day moving average of $324.42 and a 200-day moving average of $323.84. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The stock has a market capitalization of $214.21 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 3.60 and a beta of 1.24.

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

Accenture Dividend Announcement

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. The ex-dividend date was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.51%. Accenture’s dividend payout ratio is currently 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.