Resonant Capital Advisors LLC Sells 1,323 Shares of Accenture plc (NYSE:ACN)

Resonant Capital Advisors LLC lessened its stake in shares of Accenture plc (NYSE:ACN) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,970 shares of the information technology services provider’s stock after selling 1,323 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Accenture were worth $4,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACN. Norges Bank purchased a new stake in Accenture in the 4th quarter valued at about $1,850,765,000. Moneta Group Investment Advisors LLC boosted its holdings in Accenture by 101,214.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,040,402 shares of the information technology services provider’s stock worth $1,078,141,000 after buying an additional 4,036,414 shares during the period. Morgan Stanley boosted its holdings in Accenture by 14.9% in the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock worth $4,440,976,000 after buying an additional 2,163,582 shares during the period. Wellington Management Group LLP boosted its holdings in Accenture by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after buying an additional 720,647 shares during the period. Finally, State Street Corp boosted its holdings in Accenture by 2.7% in the 1st quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock valued at $7,560,765,000 after purchasing an additional 704,657 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ACN shares. Susquehanna reissued a “neutral” rating and issued a $360.00 price target (down from $400.00) on shares of Accenture in a report on Thursday, March 21st. BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research report on Wednesday, January 17th. Stifel Nicolaus raised their target price on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada raised their target price on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, TD Cowen reduced their price objective on Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $387.00.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 3,010 shares of Accenture stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.80, for a total value of $1,119,118.00. Following the sale, the chief accounting officer now directly owns 9,193 shares of the company’s stock, valued at $3,417,957.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the sale, the chief accounting officer now directly owns 9,193 shares of the company’s stock, valued at $3,417,957.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.81, for a total value of $1,859,050.00. Following the sale, the insider now directly owns 20,316 shares in the company, valued at $7,553,691.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,500 shares of company stock valued at $12,276,123. 0.07% of the stock is currently owned by insiders.

Accenture Trading Up 0.2 %

NYSE ACN traded up $0.56 on Friday, hitting $316.56. 1,843,414 shares of the company traded hands, compared to its average volume of 2,369,295. The company has a market capitalization of $212.33 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 2.98 and a beta of 1.19. The business’s 50 day moving average price is $356.30 and its 200-day moving average price is $341.77. Accenture plc has a 52-week low of $261.68 and a 52-week high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. During the same period in the previous year, the business earned $2.69 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be issued a $1.29 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.63%. Accenture’s dividend payout ratio (DPR) is 46.78%.

Accenture 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.