Csenge Advisory Group Sells 1,046 Shares of Accenture plc (NYSE:ACN)

Csenge Advisory Group lessened its holdings in shares of Accenture plc (NYSE:ACN) by 18.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,590 shares of the information technology services provider’s stock after selling 1,046 shares during the quarter. Csenge Advisory Group’s holdings in Accenture were worth $1,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Accenture in the 4th quarter worth $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Accenture by 100.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after acquiring an additional 875,723 shares in the last quarter. Winslow Capital Management LLC bought a new stake in shares of Accenture in the 4th quarter worth $288,168,000. Generation Investment Management LLP bought a new stake in shares of Accenture in the 4th quarter worth $286,220,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Accenture in the 4th quarter worth about $263,421,000. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares in the company, valued at approximately $4,208,606.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,083 shares of company stock worth $6,302,285. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

NYSE ACN traded up $6.75 on Thursday, reaching $300.90. 1,337,699 shares of the company’s stock traded hands, compared to its average volume of 2,879,152. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The stock has a 50-day simple moving average of $299.02 and a 200 day simple moving average of $333.68. The stock has a market cap of $188.57 billion, a PE ratio of 27.06, a P/E/G ratio of 3.34 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be issued a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio is 47.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Robert W. Baird cut their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a report on Thursday, May 16th. The Goldman Sachs Group assumed coverage on shares of Accenture in a report on Monday, June 24th. They issued a “neutral” rating and a $335.00 price target on the stock. Piper Sandler Companies cut their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, June 17th. Finally, Mizuho dropped their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $351.82.

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.