Crescent Grove Advisors LLC Trims Stock Position in Accenture plc (NYSE:ACN)

Crescent Grove Advisors LLC trimmed its holdings in Accenture plc (NYSE:ACN) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,744 shares of the information technology services provider’s stock after selling 110 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Accenture were worth $612,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ACN. Chilton Capital Management LLC raised its holdings 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 worth $25,000 after purchasing an additional 45 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Accenture in the 1st quarter valued at $28,000. BluePath Capital Management LLC acquired a new position in Accenture during the third quarter worth $31,000. Halpern Financial Inc. purchased a new stake in shares of Accenture during the fourth quarter worth about $31,000. Finally, RVW Wealth LLC acquired a new stake in Accenture in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Cowen decreased their price objective on Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a report on Friday, March 22nd. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Piper Sandler boosted their target price on shares of Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Bank of America lifted their target price on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Mizuho reissued a “buy” rating and issued a $398.00 price objective (down previously from $426.00) on shares of Accenture in a research note on Friday, March 22nd. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 3,010 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.80, for a total value of $1,119,118.00. Following the completion of the transaction, the chief accounting officer now owns 9,193 shares in the company, valued at $3,417,957.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 3,010 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the transaction, the chief accounting officer now directly owns 9,193 shares of the company’s stock, valued at approximately $3,417,957.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $11,146,998 in the last quarter. Company insiders own 0.07% of the company’s stock.

Accenture Trading Down 0.0 %

Shares of Accenture stock traded down $0.06 during trading hours on Tuesday, hitting $313.21. 524,260 shares of the company were exchanged, compared to its average volume of 2,330,052. The stock has a market capitalization of $210.08 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.99 and a beta of 1.19. Accenture plc has a 1 year low of $261.68 and a 1 year high of $387.51. The business has a 50-day moving average of $359.41 and a 200-day moving average of $342.09.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. Accenture’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.69 earnings per share. As a group, research analysts anticipate that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.65%. Accenture’s payout ratio is 46.78%.

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.