Red Door Wealth Management LLC Sells 40 Shares of Accenture plc (NYSE:ACN)

Red Door Wealth Management LLC decreased its position in Accenture plc (NYSE:ACN) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,058 shares of the information technology services provider’s stock after selling 40 shares during the quarter. Red Door Wealth Management LLC’s holdings in Accenture were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ACN. Cornerstone Wealth Group LLC grew its position in Accenture by 12.7% during the first quarter. Cornerstone Wealth Group LLC now owns 1,891 shares of the information technology services provider’s stock valued at $656,000 after buying an additional 213 shares during the period. Annapolis Financial Services LLC grew its position in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares during the period. New Mexico Educational Retirement Board grew its position in Accenture by 11.9% during the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after buying an additional 3,900 shares during the period. Brown Miller Wealth Management LLC grew its position in Accenture by 2.7% during the first quarter. Brown Miller Wealth Management LLC now owns 7,551 shares of the information technology services provider’s stock valued at $2,617,000 after buying an additional 195 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Accenture by 1.7% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,519 shares of the information technology services provider’s stock valued at $2,260,000 after buying an additional 111 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock opened at $303.41 on Monday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a market cap of $203.51 billion, a PE ratio of 27.78, a PEG ratio of 3.38 and a beta of 1.21. The company has a 50 day simple moving average of $300.17 and a two-hundred day simple moving average of $336.05.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The company 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 firm earned $3.19 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts anticipate 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 paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Wall Street Analyst Weigh In

Several research firms have commented on ACN. Stifel Nicolaus dropped their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Susquehanna dropped their price objective on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Piper Sandler dropped their price objective 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, Wedbush dropped their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, June 12th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $352.74.

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the transaction, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is currently owned by corporate insiders.

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.