International Assets Investment Management LLC Sells 253 Shares of Accenture plc (NYSE:ACN)

International Assets Investment Management LLC lowered its stake in Accenture plc (NYSE:ACN) by 15.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,364 shares of the information technology services provider’s stock after selling 253 shares during the period. International Assets Investment Management LLC’s holdings in Accenture were worth $462,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACN. Operose Advisors LLC bought a new stake in Accenture during the 3rd quarter worth about $203,000. Milestone Asset Management LLC lifted its holdings in Accenture by 5.5% in the third quarter. Milestone Asset Management LLC now owns 889 shares of the information technology services provider’s stock valued at $274,000 after buying an additional 46 shares during the period. Mather Group LLC. boosted its stake in Accenture by 19.3% in the third quarter. Mather Group LLC. now owns 11,852 shares of the information technology services provider’s stock valued at $3,640,000 after acquiring an additional 1,914 shares during the last quarter. Valley National Advisers Inc. grew its holdings in Accenture by 40.3% during the 3rd quarter. Valley National Advisers Inc. now owns 167 shares of the information technology services provider’s stock worth $51,000 after acquiring an additional 48 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Accenture by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 286,711 shares of the information technology services provider’s stock valued at $88,052,000 after purchasing an additional 1,143 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the transaction, the chief financial officer now owns 42,781 shares of the company’s stock, valued at $13,518,796. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock valued at $6,302,285 over the last three months. Insiders own 0.07% of the company’s stock.

Accenture Stock Down 0.6 %

NYSE:ACN opened at $307.21 on Tuesday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The firm has a market capitalization of $206.06 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 3.35 and a beta of 1.21. The stock’s 50 day moving average price is $301.03 and its two-hundred day moving average price is $337.09.

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

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders 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 annualized dividend and a yield of 1.68%. Accenture’s dividend payout ratio is 47.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACN. Barclays dropped their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a report on Monday, June 17th. Royal Bank of Canada lifted their price objective on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Mizuho lowered their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Bank of America decreased their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $400.00 price objective on shares of Accenture in a research note on Friday. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.09.

About Accenture

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.