Riverview Trust Co Takes Position in Accenture plc (NYSE:ACN)

Riverview Trust Co acquired a new stake in shares of Accenture plc (NYSE:ACN) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 324 shares of the information technology services provider’s stock, valued at approximately $112,000.

A number of other large investors have also made changes to their positions in ACN. Chilton Capital Management LLC raised its position in shares of Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Accenture in the fourth quarter worth about $27,000. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the fourth quarter worth about $29,000. Atwood & Palmer Inc. raised its position in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. Finally, Halpern Financial Inc. acquired a new position in Accenture in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Up 0.0 %

Shares of NYSE ACN opened at $307.23 on Wednesday. The company’s fifty day moving average is $300.89 and its 200-day moving average is $336.88. The stock has a market cap of $206.07 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 3.39 and a beta of 1.22. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last announced its quarterly 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). The firm had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 earnings per share. On average, research analysts anticipate that Accenture plc will post 11.96 EPS for the current fiscal year.

Accenture Announces Dividend

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

Insider Buying and Selling

In related news, General Counsel Joel Unruch sold 4,333 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, General Counsel Joel Unruch sold 4,333 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The disclosure for this sale can be found here. Insiders have sold a total of 20,083 shares of company stock worth $6,302,285 over the last ninety days. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of several recent research reports. BMO Capital Markets dropped their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, June 21st. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. TD Cowen dropped their price objective on shares of Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a report on Friday, June 21st. Piper Sandler Companies dropped their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Finally, The Goldman Sachs Group began coverage on shares of Accenture in a report on Monday. They set a “neutral” rating and a $335.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $357.09.

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.