Veracity Capital LLC Has $1.06 Million Position in Accenture plc (NYSE:ACN)

Veracity Capital LLC boosted its position in Accenture plc (NYSE:ACN) by 27.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,065 shares of the information technology services provider’s stock after acquiring an additional 653 shares during the quarter. Veracity Capital LLC’s holdings in Accenture were worth $1,062,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. lifted its stake in Accenture by 8.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock valued at $125,000 after purchasing an additional 27 shares during the last quarter. Brave Asset Management Inc. boosted its holdings in shares of Accenture by 2.8% during the 4th quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock valued at $361,000 after acquiring an additional 28 shares in the last quarter. Addison Advisors LLC grew its position in Accenture by 0.9% during the 4th quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after acquiring an additional 28 shares during the last quarter. Searle & CO. raised its position in Accenture by 3.6% in the fourth quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 28 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Accenture by 2.1% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after purchasing an additional 28 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the transaction, the chief financial officer now owns 42,781 shares in the company, valued at approximately $13,518,796. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the transaction, the chief financial officer now owns 42,781 shares in the company, valued at $13,518,796. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock worth $6,302,285 over the last quarter. Insiders own 0.07% of the company’s stock.

Accenture Stock Up 0.6 %

ACN traded up $1.92 during trading on Thursday, hitting $305.75. 1,751,215 shares of the company’s stock were exchanged, compared to its average volume of 4,312,141. The stock has a market cap of $191.61 billion, a P/E ratio of 28.00, a PEG ratio of 3.39 and a beta of 1.23. The business’s 50 day moving average is $299.45 and its two-hundred day moving average is $335.28. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share 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 business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period in the previous year, the business posted $3.19 EPS. Accenture’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.69%. Accenture’s payout ratio is 47.25%.

Analysts Set New Price Targets

ACN has been the subject of a number of research reports. Barclays dropped their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Bank of America cut their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Piper Sandler lowered their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $382.00 to $300.00 in a research note on Wednesday, June 26th. Finally, Robert W. Baird reduced their target price on Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.74.

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.