Angeles Investment Advisors LLC Trims Holdings in Accenture plc (NYSE:ACN)

Angeles Investment Advisors LLC cut its stake in Accenture plc (NYSE:ACN) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,247 shares of the information technology services provider’s stock after selling 186 shares during the period. Angeles Investment Advisors LLC’s holdings in Accenture were worth $378,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC increased its position in shares of Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after acquiring an additional 125 shares during the period. Focus Financial Network Inc. ADV purchased a new position in Accenture during the 4th quarter worth $4,594,000. New Mexico Educational Retirement Board raised its position in Accenture by 11.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after purchasing an additional 3,900 shares in the last quarter. Platform Technology Partners lifted its holdings in shares of Accenture by 7.0% in the 4th quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after buying an additional 131 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Accenture by 13.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 183,446 shares of the information technology services provider’s stock worth $63,584,000 after buying an additional 21,516 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.1 %

Shares of Accenture stock opened at $349.58 on Monday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm’s 50 day simple moving average is $328.08 and its two-hundred day simple moving average is $323.04. The firm has a market capitalization of $219.08 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last released its earnings results 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 firm 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 previous year, the company earned $3.19 earnings per share. On average, sell-side analysts predict that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were given a $1.29 dividend. The ex-dividend date was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.48%. Accenture’s dividend payout ratio is currently 47.25%.

Insider Buying and Selling

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the sale, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Friday, July 19th. Stifel Nicolaus dropped their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating on the stock 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. BMO Capital Markets dropped their target price on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, June 21st. Finally, Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $382.00 to $300.00 in a research report on Wednesday, June 26th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.68.

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.