Capital Advisors Inc. OK lessened its holdings in Accenture PLC (NYSE:ACN – Free Report) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 243,670 shares of the information technology services provider’s stock after selling 1,823 shares during the period. Accenture comprises approximately 1.3% of Capital Advisors Inc. OK’s holdings, making the stock its 17th biggest position. Capital Advisors Inc. OK’s holdings in Accenture were worth $72,831,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ACN. Brighton Jones LLC lifted its stake in shares of Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after purchasing an additional 4,905 shares during the period. Orrstown Financial Services Inc. increased its holdings in Accenture by 29.5% in the 1st quarter. Orrstown Financial Services Inc. now owns 1,810 shares of the information technology services provider’s stock worth $565,000 after acquiring an additional 412 shares in the last quarter. Whitaker Myers Wealth Managers LTD. purchased a new stake in Accenture in the 1st quarter worth approximately $447,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Accenture by 55.4% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,500 shares of the information technology services provider’s stock worth $468,000 after acquiring an additional 535 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in Accenture by 7.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 38,854 shares of the information technology services provider’s stock worth $12,124,000 after acquiring an additional 2,758 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.
Accenture Trading Up 0.4%
ACN stock opened at $245.39 on Monday. The firm has a fifty day moving average price of $249.57 and a 200 day moving average price of $283.24. Accenture PLC has a fifty-two week low of $229.40 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.42. The firm has a market cap of $153.69 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.14 and a beta of 1.28.
Accenture Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Accenture’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Friday, October 10th. Accenture’s payout ratio is 48.72%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on ACN shares. Barclays reduced their target price on shares of Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a report on Monday, June 23rd. Robert W. Baird reduced their target price on shares of Accenture from $350.00 to $330.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Stifel Nicolaus cut their price objective on shares of Accenture from $355.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Wall Street Zen raised shares of Accenture from a “hold” rating to a “buy” rating in a report on Friday. Finally, Wolfe Research cut their target price on shares of Accenture from $290.00 to $285.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $300.22.
Insider Activity at Accenture
In related news, insider Angela Beatty sold 203 shares of the firm’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares of the company’s stock, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of Accenture stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the transaction, the chief executive officer directly owned 8,109 shares of the company’s stock, valued at $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,954 shares of company stock valued at $834,280. 0.02% of the stock is owned by corporate insiders.
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.
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