CCM Investment Advisers LLC Has $12.55 Million Stock Position in Accenture plc (NYSE:ACN)

CCM Investment Advisers LLC lifted its position in Accenture plc (NYSE:ACN) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,362 shares of the information technology services provider’s stock after acquiring an additional 611 shares during the quarter. CCM Investment Advisers LLC’s holdings in Accenture were worth $12,550,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. BDF Gestion purchased a new stake in Accenture in the 2nd quarter worth approximately $7,697,000. Duncan Williams Asset Management LLC grew its stake in Accenture by 7.2% in the 2nd quarter. Duncan Williams Asset Management LLC now owns 3,264 shares of the information technology services provider’s stock valued at $990,000 after buying an additional 218 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in Accenture by 3.0% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 11,718 shares of the information technology services provider’s stock valued at $3,555,000 after purchasing an additional 344 shares during the period. Avity Investment Management Inc. increased its position in Accenture by 8.8% in the 2nd quarter. Avity Investment Management Inc. now owns 117,353 shares of the information technology services provider’s stock worth $35,606,000 after buying an additional 9,531 shares during the period. Finally, Ellenbecker Investment Group acquired a new position in shares of Accenture during the second quarter worth approximately $232,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.22, for a total transaction of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock worth $6,912,635 over the last ninety days. Insiders own 0.07% of the company’s stock.

Accenture Stock Down 0.0 %

Shares of NYSE:ACN traded down $0.05 during midday trading on Friday, hitting $315.83. The stock had a trading volume of 1,847,324 shares, compared to its average volume of 2,906,728. The business’s 50-day simple moving average is $307.17 and its 200-day simple moving average is $329.93. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a market cap of $197.93 billion, a P/E ratio of 28.92, a PEG ratio of 3.66 and a beta of 1.23.

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

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio is 47.25%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACN. Bank of America dropped their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Friday, July 19th. The Goldman Sachs Group started coverage on Accenture in a research note on Monday, June 24th. They set a “neutral” rating and a $335.00 price target on the stock. Wedbush decreased their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Finally, StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $351.82.

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.