Berry Wealth Group LP Sells 69 Shares of Accenture PLC (NYSE:ACN)

Berry Wealth Group LP lessened its position in shares of Accenture PLC (NYSE:ACN) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 712 shares of the information technology services provider’s stock after selling 69 shares during the period. Berry Wealth Group LP’s holdings in Accenture were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. Visionary Wealth Advisors boosted its stake in shares of Accenture by 3.5% during the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock valued at $274,000 after purchasing an additional 26 shares during the period. Vivaldi Capital Management LP boosted its stake in shares of Accenture by 3.6% during the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock valued at $292,000 after purchasing an additional 27 shares during the period. Nemes Rush Group LLC boosted its stake in shares of Accenture by 7.5% during the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock valued at $147,000 after purchasing an additional 29 shares during the period. United Community Bank boosted its stake in shares of Accenture by 1.5% during the fourth quarter. United Community Bank now owns 2,069 shares of the information technology services provider’s stock valued at $728,000 after purchasing an additional 30 shares during the period. Finally, Tradition Wealth Management LLC boosted its stake in shares of Accenture by 0.3% during the fourth quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider’s stock valued at $3,863,000 after purchasing an additional 30 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 3.4%

NYSE ACN opened at $295.03 on Tuesday. The business has a fifty day moving average price of $307.08 and a 200 day moving average price of $333.04. Accenture PLC has a one year low of $273.19 and a one year high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. The company has a market cap of $184.79 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.85 and a beta of 1.33.

Accenture (NYSE:ACN) last issued its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same period last year, the company earned $3.13 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.01%. Accenture’s dividend payout ratio (DPR) is currently 47.13%.

Analysts Set New Price Targets

ACN has been the subject of several recent research reports. Guggenheim decreased their price objective on Accenture from $360.00 to $335.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. lifted their price objective on Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a report on Monday, June 16th. Stifel Nicolaus decreased their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Barclays decreased their price objective on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wall Street Zen downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average price target of $374.00.

Insider Activity at Accenture

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,516 shares of company stock worth $2,507,366. Company insiders own 0.02% of the company’s stock.

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.