Sawtooth Solutions LLC Has $1.78 Million Stock Holdings in Accenture plc (NYSE:ACN)

Sawtooth Solutions LLC decreased its position in shares of Accenture plc (NYSE:ACNGet Rating) by 38.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,286 shares of the information technology services provider’s stock after selling 3,276 shares during the period. Sawtooth Solutions LLC’s holdings in Accenture were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. boosted its position in Accenture by 153.6% in the first quarter. Select Equity Group L.P. now owns 171,434 shares of the information technology services provider’s stock valued at $57,813,000 after buying an additional 103,824 shares in the last quarter. Equitable Holdings Inc. boosted its position in Accenture by 24.7% in the fourth quarter. Equitable Holdings Inc. now owns 1,334 shares of the information technology services provider’s stock valued at $553,000 after buying an additional 264 shares in the last quarter. Invesco Ltd. boosted its position in Accenture by 1.2% in the first quarter. Invesco Ltd. now owns 3,332,841 shares of the information technology services provider’s stock valued at $1,123,933,000 after buying an additional 39,571 shares in the last quarter. MBL Wealth LLC acquired a new stake in Accenture in the first quarter valued at approximately $284,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Accenture in the first quarter valued at approximately $112,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 3,278 shares of Accenture 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 completion of the transaction, the chief executive officer now directly owns 16,978 shares in the company, valued at $4,599,849.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Joel Unruch sold 556 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $287.51, for a total transaction of $159,855.56. Following the transaction, the general counsel now directly owns 26,156 shares in the company, valued at $7,520,111.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 3,278 shares of the business’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 $888,108.54. Following the transaction, the chief executive officer now owns 16,978 shares in the company, valued at $4,599,849.54. The disclosure for this sale can be found here. Insiders sold 11,389 shares of company stock worth $3,132,777 over the last three months. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ACN. Piper Sandler dropped their price target on shares of Accenture from $305.00 to $281.00 and set a “neutral” rating for the company in a research note on Monday, July 18th. Jefferies Financial Group dropped their price target on shares of Accenture from $342.00 to $310.00 and set a “hold” rating for the company in a research note on Wednesday. Barclays dropped their price target on shares of Accenture from $455.00 to $370.00 and set an “overweight” rating for the company in a research note on Friday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Accenture from $440.00 to $364.00 in a research note on Friday, June 17th. Finally, Exane BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $355.63.

Accenture Trading Down 1.1 %

ACN opened at $278.53 on Thursday. Accenture plc has a 1-year low of $261.77 and a 1-year high of $417.37. The company has a market cap of $176.18 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 2.45 and a beta of 1.22. The company has a fifty day moving average price of $295.48 and a two-hundred day moving average price of $301.71.

Accenture (NYSE:ACNGet Rating) last posted its quarterly earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.05). Accenture had a net margin of 11.13% and a return on equity of 31.50%. The company had revenue of $16.16 billion during the quarter, compared to the consensus estimate of $16.05 billion. During the same period last year, the firm posted $2.40 earnings per share. On average, research analysts forecast that Accenture plc will post 10.68 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Thursday, July 14th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Wednesday, July 13th. Accenture’s dividend payout ratio is currently 37.63%.

About Accenture

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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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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