Valeo Financial Advisors LLC Sells 52 Shares of Accenture plc (NYSE:ACN)

Valeo Financial Advisors LLC reduced its position in shares of Accenture plc (NYSE:ACN) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 8,037 shares of the information technology services provider’s stock after selling 52 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Accenture were worth $2,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACN. Masso Torrence Wealth Management Inc. lifted its holdings in shares of Accenture by 2.0% during the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after purchasing an additional 28 shares during the period. BSW Wealth Partners lifted its holdings in shares of Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 28 shares during the period. Slow Capital Inc. lifted its holdings in shares of Accenture by 0.3% during the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock worth $3,205,000 after purchasing an additional 29 shares during the period. Finally, Tradition Wealth Management LLC lifted its holdings in shares of Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at $10,232,419.68. This represents a 7.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last three months. 0.02% of the stock is owned by corporate insiders.

Accenture Stock Down 0.4 %

Shares of ACN opened at $387.99 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50 day moving average price of $364.78 and a 200 day moving average price of $353.68. The stock has a market capitalization of $242.80 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.27 EPS. Equities research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, January 16th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 16th. Accenture’s payout ratio is currently 49.66%.

Analyst Ratings Changes

ACN has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Piper Sandler boosted their price target on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley boosted their price target on Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

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.