Parallel Advisors LLC Sells 1,174 Shares of Accenture plc (NYSE:ACN)

Parallel Advisors LLC lowered its stake in shares of Accenture plc (NYSE:ACN) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 58,410 shares of the information technology services provider’s stock after selling 1,174 shares during the quarter. Parallel Advisors LLC’s holdings in Accenture were worth $18,226,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tompkins Financial Corp boosted its position in Accenture by 2.0% in the 1st quarter. Tompkins Financial Corp now owns 18,846 shares of the information technology services provider’s stock worth $5,881,000 after purchasing an additional 368 shares in the last quarter. GAMMA Investing LLC raised its stake in Accenture by 30,256.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after purchasing an additional 3,410,248 shares during the last quarter. Webster Bank N. A. increased its stake in shares of Accenture by 0.7% in the 1st quarter. Webster Bank N. A. now owns 16,766 shares of the information technology services provider’s stock worth $5,232,000 after acquiring an additional 117 shares during the last quarter. Quent Capital LLC increased its stake in shares of Accenture by 1.5% in the 1st quarter. Quent Capital LLC now owns 2,943 shares of the information technology services provider’s stock worth $918,000 after acquiring an additional 43 shares during the last quarter. Finally, Farmers Trust Co. increased its position in shares of Accenture by 31.2% during the 1st quarter. Farmers Trust Co. now owns 14,205 shares of the information technology services provider’s stock worth $4,433,000 after purchasing an additional 3,381 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the transaction, the chief operating officer now directly owns 15,882 shares of the company’s stock, valued at $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada lowered their target price on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Stifel Nicolaus decreased their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets boosted their target price on Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Finally, Piper Sandler reduced their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $382.14.

Accenture Trading Up 0.6%

NYSE:ACN opened at $317.81 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $302.48 and its two-hundred day moving average is $339.04. The company has a market cap of $199.05 billion, a PE ratio of 26.66, a P/E/G ratio of 3.23 and a beta of 1.35. Accenture plc has a 52 week low of $275.01 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $2.77 EPS. On average, analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.86%. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

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.