Cornerstone Advisors LLC Decreases Holdings in Accenture plc (NYSE:ACN)

Cornerstone Advisors LLC reduced its stake in Accenture plc (NYSE:ACNFree Report) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the information technology services provider’s stock after selling 300 shares during the period. Cornerstone Advisors LLC’s holdings in Accenture were worth $8,906,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. 1ST Source Bank grew its stake in Accenture by 4.8% during the 3rd quarter. 1ST Source Bank now owns 1,181 shares of the information technology services provider’s stock worth $363,000 after buying an additional 54 shares during the last quarter. Marsico Capital Management LLC purchased a new position in shares of Accenture in the third quarter valued at $5,782,000. Tocqueville Asset Management L.P. increased its position in shares of Accenture by 77.3% in the third quarter. Tocqueville Asset Management L.P. now owns 2,021 shares of the information technology services provider’s stock valued at $621,000 after buying an additional 881 shares in the last quarter. Navellier & Associates Inc. purchased a new position in shares of Accenture in the third quarter valued at $350,000. Finally, Alliance Wealth Advisors LLC UT boosted its stake in shares of Accenture by 3.6% during the third quarter. Alliance Wealth Advisors LLC UT now owns 11,994 shares of the information technology services provider’s stock valued at $3,683,000 after acquiring an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.

Accenture Stock Down 0.4 %

Shares of NYSE ACN traded down $1.47 during midday trading on Monday, hitting $370.20. 589,078 shares of the company’s stock were exchanged, compared to its average volume of 2,013,392. The firm has a market capitalization of $232.23 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 3.42 and a beta of 1.21. The company’s 50 day moving average price is $353.19 and its 200 day moving average price is $328.29. Accenture plc has a 12 month low of $242.80 and a 12 month high of $375.73.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings data on Tuesday, December 19th. The information technology services provider reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.13. The firm had revenue of $16.22 billion for the quarter, compared to the consensus estimate of $16.17 billion. Accenture had a net margin of 10.65% and a return on equity of 29.08%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. On average, equities research analysts anticipate that Accenture plc will post 12.22 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, January 18th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, January 17th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.39%. Accenture’s payout ratio is presently 47.82%.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $371.81, for a total value of $1,859,050.00. Following the completion of the sale, the insider now owns 20,316 shares in the company, valued at approximately $7,553,691.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.81, for a total transaction of $1,859,050.00. Following the completion of the sale, the insider now directly owns 20,316 shares of the company’s stock, valued at approximately $7,553,691.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction on Friday, January 26th. The stock was sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the completion of the transaction, the general counsel now owns 34,795 shares in the company, valued at approximately $12,937,824.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,551 shares of company stock worth $9,739,791. 0.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ACN shares. BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research note on Wednesday, January 17th. UBS Group boosted their price target on Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Wedbush increased their target price on shares of Accenture from $330.00 to $360.00 and gave the stock an “outperform” rating in a report on Thursday, December 14th. Redburn Atlantic assumed coverage on shares of Accenture in a research note on Thursday, November 16th. They set a “buy” rating and a $410.00 target price on the stock. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $361.63.

Get Our Latest Research Report on ACN

Accenture Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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