Western Wealth Management LLC Sells 281 Shares of Accenture plc (NYSE:ACN)

Western Wealth Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 27.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 754 shares of the information technology services provider’s stock after selling 281 shares during the quarter. Western Wealth Management LLC’s holdings in Accenture were worth $229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. bought a new position in Accenture in the fourth quarter valued at approximately $27,000. Annapolis Financial Services LLC raised its holdings in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in Accenture in the fourth quarter worth $29,000. Atwood & Palmer Inc. raised its holdings in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares during the period. Finally, Grayhawk Investment Strategies Inc. acquired a new stake in Accenture in the fourth quarter worth $35,000. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Piper Sandler Companies dropped their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Deutsche Bank Aktiengesellschaft lowered shares of Accenture from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $409.00 to $295.00 in a report on Wednesday, May 15th. Susquehanna dropped their price objective on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Finally, TD Cowen dropped their price objective on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $351.82.

Accenture Trading Up 0.9 %

Shares of ACN traded up $3.03 during midday trading on Monday, reaching $329.95. The stock had a trading volume of 268,951 shares, compared to its average volume of 2,864,863. The firm has a 50 day simple moving average of $311.12 and a 200-day simple moving average of $327.28. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The firm has a market cap of $206.78 billion, a PE ratio of 29.94, a P/E/G ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last announced 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 firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $3.19 EPS. As a group, research analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Insider Buying and Selling

In related news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares of the company’s stock, valued at approximately $12,390,445.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the sale, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,421 shares of company stock valued at $6,912,635. Company insiders own 0.07% of the company’s stock.

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.