Forbes J M & Co. LLP Has $1.24 Million Holdings in Accenture plc (NYSE:ACN)

Forbes J M & Co. LLP lessened its position in shares of Accenture plc (NYSE:ACN) by 3.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,570 shares of the information technology services provider’s stock after selling 110 shares during the quarter. Forbes J M & Co. LLP’s holdings in Accenture were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Accenture by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock valued at $17,945,673,000 after buying an additional 184,541 shares in the last quarter. Wellington Management Group LLP boosted its stake in Accenture by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after buying an additional 720,647 shares in the last quarter. Capital Research Global Investors boosted its stake in Accenture by 1.9% in the 4th quarter. Capital Research Global Investors now owns 8,479,430 shares of the information technology services provider’s stock valued at $2,975,517,000 after buying an additional 159,696 shares in the last quarter. Norges Bank acquired a new stake in Accenture in the 4th quarter valued at $2,061,490,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Accenture by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,466,684 shares of the information technology services provider’s stock worth $1,556,676,000 after purchasing an additional 68,635 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Piper Sandler reduced their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 price objective on shares of Accenture in a research note on Friday. Bank of America reduced their price objective on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. BMO Capital Markets dropped their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Robert W. Baird dropped their target price on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $358.09.

Accenture Trading Up 0.9 %

Shares of ACN stock traded up $2.82 on Friday, hitting $308.98. 8,481,762 shares of the stock were exchanged, compared to its average volume of 3,604,425. The firm has a market capitalization of $207.25 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.35 and a beta of 1.21. The business has a 50-day moving average of $301.15 and a 200 day moving average of $337.27. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. During the same period last year, the company posted $3.19 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts forecast that Accenture plc will post 12 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.67%. Accenture’s dividend payout ratio is 47.25%.

Insider Buying and Selling at Accenture

In other Accenture news, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares in the company, valued at $5,937,488.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 17,877 shares in the company, valued at $5,937,488.01. The disclosure for this sale can be found here. Insiders have sold 28,083 shares of company stock worth $8,959,325 over the last 90 days. Company insiders own 0.07% of the company’s stock.

Accenture 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.