MGO One Seven LLC Has $1.46 Million Stake in Accenture plc (NYSE:ACN)

MGO One Seven LLC reduced its holdings in Accenture plc (NYSE:ACN) by 7.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,797 shares of the information technology services provider’s stock after selling 372 shares during the quarter. MGO One Seven LLC’s holdings in Accenture were worth $1,456,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ACN shares. Morgan Stanley cut 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 report on Wednesday, June 26th. Piper Sandler Companies reduced their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Friday, July 19th. TD Cowen lifted their target price on shares of Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus dropped their price target 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. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $354.68.

Insiders Place Their Bets

In other news, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the transaction, the chief financial officer now directly owns 38,570 shares of the company’s stock, valued at $12,149,550. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is currently owned by insiders.

Accenture Trading Down 0.1 %

ACN opened at $349.90 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The firm has a 50-day moving average price of $327.07 and a two-hundred day moving average price of $324.00. The stock has a market capitalization of $219.28 billion, a PE ratio of 32.04, a PEG ratio of 3.60 and a beta of 1.24.

Accenture (NYSE:ACN) last posted 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 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 quarter last year, the firm earned $3.19 EPS. On average, research analysts predict that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company also recently disclosed 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 1.47%. Accenture’s payout ratio is 47.25%.

About Accenture

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.