Traynor Capital Management Inc. Acquires 33 Shares of Accenture plc (NYSE:ACN)

Traynor Capital Management Inc. boosted its holdings in shares of Accenture plc (NYSE:ACN) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 672 shares of the information technology services provider’s stock after purchasing an additional 33 shares during the quarter. Traynor Capital Management Inc.’s holdings in Accenture were worth $204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Unique Wealth Strategies LLC purchased a new position in Accenture during the 2nd quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new position in Accenture during the 4th quarter valued at approximately $27,000. Annapolis Financial Services LLC grew its holdings in Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in Accenture during the 4th quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. grew its holdings in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.8 %

Shares of ACN traded up $2.70 during trading hours on Friday, hitting $333.27. The company had a trading volume of 1,518,702 shares, compared to its average volume of 2,841,372. The company has a market capitalization of $208.86 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The company’s fifty day moving average price is $315.47 and its two-hundred day moving average price is $326.50.

Accenture (NYSE:ACN) last released 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). The company had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 earnings per share. Analysts forecast that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ACN. Wedbush dropped their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Mizuho dropped their target price on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Susquehanna dropped their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Bank of America dropped their target price on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, BMO Capital Markets decreased their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, June 21st. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $352.33.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. In the last three months, insiders sold 21,421 shares of company stock valued at $6,912,635. Corporate 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.