Evercore Wealth Management LLC Has $133.80 Million Stake in Accenture plc (NYSE:ACN)

Evercore Wealth Management LLC cut its stake in Accenture plc (NYSE:ACNGet Rating) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 396,767 shares of the information technology services provider’s stock after selling 364 shares during the period. Accenture comprises approximately 2.4% of Evercore Wealth Management LLC’s holdings, making the stock its 10th largest holding. Evercore Wealth Management LLC’s holdings in Accenture were worth $133,802,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Paradigm Financial Partners LLC boosted its stake in shares of Accenture by 0.3% in the fourth quarter. Paradigm Financial Partners LLC now owns 10,429 shares of the information technology services provider’s stock valued at $4,323,000 after buying an additional 35 shares during the period. BNC Wealth Management LLC boosted its stake in shares of Accenture by 0.4% in the first quarter. BNC Wealth Management LLC now owns 9,924 shares of the information technology services provider’s stock valued at $3,347,000 after buying an additional 35 shares during the period. Financial Advisors Network Inc. lifted its stake in Accenture by 0.4% during the fourth quarter. Financial Advisors Network Inc. now owns 8,210 shares of the information technology services provider’s stock worth $3,404,000 after purchasing an additional 36 shares during the last quarter. Cadence Bank lifted its stake in Accenture by 0.7% during the first quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock worth $1,686,000 after purchasing an additional 36 shares during the last quarter. Finally, Evoke Wealth LLC lifted its stake in Accenture by 0.8% during the first quarter. Evoke Wealth LLC now owns 4,907 shares of the information technology services provider’s stock worth $1,655,000 after purchasing an additional 37 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Accenture Trading Up 1.6 %

Shares of ACN opened at $295.26 on Tuesday. The firm’s fifty day simple moving average is $295.06 and its two-hundred day simple moving average is $302.14. Accenture plc has a 12 month low of $261.77 and a 12 month high of $417.37. The stock has a market capitalization of $186.77 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 2.45 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last released its earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.05). The business had revenue of $16.16 billion for the quarter, compared to analyst estimates of $16.05 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. During the same period in the prior year, the business earned $2.40 EPS. As a group, research analysts predict that Accenture plc will post 10.68 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Thursday, July 14th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Wednesday, July 13th. Accenture’s dividend payout ratio (DPR) is currently 37.63%.

Insider Transactions at Accenture

In other news, insider Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the transaction, the insider now owns 159,630 shares of the company’s stock, valued at approximately $43,248,555.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Julie Spellman Sweet sold 3,278 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $270.93, for a total transaction of $888,108.54. Following the transaction, the chief executive officer now owns 16,978 shares of the company’s stock, valued at approximately $4,599,849.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $1,693,312.50. Following the completion of the sale, the insider now owns 159,630 shares in the company, valued at approximately $43,248,555.90. The disclosure for this sale can be found here. Insiders have sold 11,389 shares of company stock valued at $3,132,777 in the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ACN has been the subject of several recent analyst reports. Piper Sandler cut their target price on Accenture from $305.00 to $281.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Royal Bank of Canada cut their target price on Accenture from $435.00 to $357.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Robert W. Baird upped their target price on Accenture from $310.00 to $338.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Accenture from $440.00 to $364.00 in a report on Friday, June 17th. Finally, Citigroup lowered their price target on shares of Accenture from $400.00 to $330.00 and set a “buy” rating for the company in a report on Friday, June 24th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.17.

Accenture Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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