Opal Wealth Advisors LLC Trims Position in Accenture plc (NYSE:ACN)

Opal Wealth Advisors LLC decreased its holdings in shares of Accenture plc (NYSE:ACN) by 17.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 712 shares of the information technology services provider’s stock after selling 149 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Accenture were worth $247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ACN. Ontario Teachers Pension Plan Board grew its holdings in shares of Accenture by 5.1% during the third quarter. Ontario Teachers Pension Plan Board now owns 3,402 shares of the information technology services provider’s stock worth $1,045,000 after purchasing an additional 164 shares in the last quarter. Visionary Wealth Advisors lifted its position in Accenture by 5.0% in the 3rd quarter. Visionary Wealth Advisors now owns 742 shares of the information technology services provider’s stock worth $228,000 after buying an additional 35 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Accenture by 52.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 11,357 shares of the information technology services provider’s stock worth $3,488,000 after buying an additional 3,902 shares during the last quarter. Asset Dedication LLC lifted its position in Accenture by 1.3% in the 3rd quarter. Asset Dedication LLC now owns 3,353 shares of the information technology services provider’s stock worth $1,028,000 after buying an additional 43 shares during the last quarter. Finally, EPG Wealth Management LLC lifted its position in Accenture by 6.4% in the 3rd quarter. EPG Wealth Management LLC now owns 1,825 shares of the information technology services provider’s stock worth $561,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of a number of recent research reports. Citigroup dropped their target price on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Susquehanna lowered their price objective on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday. Wedbush lowered their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Redburn Atlantic boosted their price objective on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada boosted their price objective on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $357.09.

Accenture Stock Down 0.4 %

Shares of ACN stock opened at $307.69 on Monday. The stock has a market cap of $206.38 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.35 and a beta of 1.21. The business’s fifty day moving average is $301.15 and its 200 day moving average is $337.29. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. Equities research analysts expect that Accenture plc will post 12 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be paid a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.68%. Accenture’s dividend payout ratio is currently 47.25%.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction 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 sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction 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 sale, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the transaction, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,083 shares of company stock valued at $6,302,285. Insiders own 0.07% of the company’s stock.

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.