New York Life Investment Management LLC Has $28.77 Million Position in Accenture plc (NYSE:ACN)

New York Life Investment Management LLC lessened its position in Accenture plc (NYSE:ACN) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,817 shares of the information technology services provider’s stock after selling 374 shares during the quarter. New York Life Investment Management LLC’s holdings in Accenture were worth $28,768,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. boosted its holdings in Accenture by 8.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in shares of Accenture by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock worth $478,000 after buying an additional 28 shares during the last quarter. IronBridge Private Wealth LLC grew its holdings in shares of Accenture by 2.3% in the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after acquiring an additional 28 shares in the last quarter. Kolinsky Wealth Management LLC increased its position in shares of Accenture by 1.0% in the fourth quarter. Kolinsky Wealth Management LLC now owns 2,888 shares of the information technology services provider’s stock valued at $1,013,000 after acquiring an additional 30 shares during the last quarter. Finally, Walled Lake Planning & Wealth Management LLC raised its holdings in Accenture by 0.3% during the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 11,740 shares of the information technology services provider’s stock worth $4,120,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America lowered their price target on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. TD Cowen dropped their price target on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research report on Friday, June 21st. Stifel Nicolaus decreased their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Wedbush dropped their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Finally, Barclays lowered their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $353.41.

Accenture Trading Down 0.4 %

Shares of ACN opened at $339.73 on Friday. The stock has a market capitalization of $212.91 billion, a PE ratio of 31.11, a P/E/G ratio of 3.81 and a beta of 1.24. The firm’s 50 day moving average is $323.63 and its 200-day moving average is $324.57. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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). The company had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 earnings per share. Equities research analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.52%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 directly owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

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.