Evermay Wealth Management LLC Trims Holdings in Accenture plc (NYSE:ACN)

Evermay Wealth Management LLC decreased its holdings in Accenture plc (NYSE:ACN) by 17.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,349 shares of the information technology services provider’s stock after selling 480 shares during the period. Evermay Wealth Management LLC’s holdings in Accenture were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. Norges Bank bought a new stake in Accenture during the fourth quarter valued at about $2,061,490,000. Swedbank AB bought a new stake in Accenture during the first quarter valued at about $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Accenture by 100.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after purchasing an additional 875,723 shares in the last quarter. Winslow Capital Management LLC bought a new stake in Accenture during the fourth quarter valued at about $288,168,000. Finally, Generation Investment Management LLP bought a new stake in Accenture during the fourth quarter valued at about $286,220,000. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ACN shares. Bank of America lowered their price target on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. The Goldman Sachs Group initiated coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price objective for the company. TD Cowen reduced their price objective on Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a research note on Friday, June 21st. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $382.00 to $300.00 in a research note on Wednesday, June 26th. Finally, Robert W. Baird reduced their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. 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 MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $352.33.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

Accenture Stock Up 0.4 %

NYSE ACN traded up $1.50 during trading hours on Tuesday, hitting $343.45. 269,112 shares of the company were exchanged, compared to its average volume of 2,795,291. The company has a 50 day moving average of $320.67 and a two-hundred day moving average of $324.73. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The firm has a market cap of $215.24 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.81 and a beta of 1.23.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). The business had revenue of $16.47 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 earnings per share. On average, equities research analysts predict that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.50%. Accenture’s dividend payout ratio is currently 47.25%.

Accenture Company 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.