FFT Wealth Management LLC Trims Stake in Accenture plc (NYSE:ACN)

FFT Wealth Management LLC decreased its position in shares of Accenture plc (NYSE:ACN) by 38.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,111 shares of the information technology services provider’s stock after selling 708 shares during the period. FFT Wealth Management LLC’s holdings in Accenture were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new stake in shares of Accenture during the 2nd quarter valued at $26,000. Annapolis Financial Services LLC boosted its stake in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture in the fourth quarter worth about $29,000. Atwood & Palmer Inc. lifted its holdings in shares of Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new stake in shares of Accenture in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

ACN opened at $341.95 on Monday. The firm has a market cap of $214.30 billion, a P/E ratio of 31.31, a PEG ratio of 3.81 and a beta of 1.23. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The company has a 50 day simple moving average of $319.98 and a two-hundred day simple moving average of $324.93.

Accenture (NYSE:ACN) last released its 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 return on equity of 27.48% and a net margin of 10.79%. The company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same period last year, the firm posted $3.19 EPS. Accenture’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Analyst Ratings Changes

A number of research analysts have issued reports on ACN shares. Wedbush lowered their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Barclays reduced their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. The Goldman Sachs Group started coverage on shares of Accenture in a report on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price for the company. Susquehanna decreased their target price on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. Finally, Mizuho decreased their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $352.33.

Insider Activity at Accenture

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the sale, the chief financial officer now owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of 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. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 over the last 90 days. 0.07% of the stock is owned by corporate insiders.

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.