SteelPeak Wealth LLC Has $434,000 Position in Accenture plc (NYSE:ACN)

SteelPeak Wealth LLC trimmed its stake in shares of Accenture plc (NYSE:ACN) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,252 shares of the information technology services provider’s stock after selling 76 shares during the quarter. SteelPeak Wealth LLC’s holdings in Accenture were worth $434,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. boosted its stake in shares of Accenture by 7.4% during the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after purchasing an additional 2,008 shares in the last quarter. TrinityPoint Wealth LLC grew its holdings in Accenture by 3.6% during the 4th 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 last quarter. Buckingham Capital Management Inc. raised its stake in shares of Accenture by 3.4% during the fourth quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock valued at $9,671,000 after acquiring an additional 900 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Accenture by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after purchasing an additional 96,414 shares during the period. Finally, Redwood Investments LLC grew its stake in shares of Accenture by 8.3% in the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after purchasing an additional 1,542 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America reduced 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. The Goldman Sachs Group began coverage on shares of Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 target price for the company. Citigroup dropped their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Wedbush lowered their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Finally, Morgan Stanley cut shares of Accenture from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $382.00 to $300.00 in a research report on Wednesday, June 26th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $352.74.

Accenture Price Performance

Shares of NYSE ACN opened at $303.41 on Monday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a market capitalization of $203.51 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.38 and a beta of 1.21. The company has a 50-day moving average price of $300.17 and a 200-day moving average price of $336.05.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion for 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.19 earnings per share. As a group, equities research analysts anticipate 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 will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.70%. Accenture’s payout ratio is 47.25%.

Insider Activity

In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at $13,518,796. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock worth $6,302,285 over the last quarter. 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.