AdvisorNet Financial Inc Has $571,000 Stock Holdings in Accenture plc (NYSE:ACN)

AdvisorNet Financial Inc cut its holdings in shares of Accenture plc (NYSE:ACNGet Rating) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,057 shares of the information technology services provider’s stock after selling 44 shares during the quarter. AdvisorNet Financial Inc’s holdings in Accenture were worth $571,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Paradigm Financial Partners LLC boosted its position in 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 in the last quarter. BNC Wealth Management LLC increased its holdings in Accenture by 0.4% in the 1st quarter. BNC Wealth Management LLC now owns 9,924 shares of the information technology services provider’s stock worth $3,347,000 after purchasing an additional 35 shares in the last quarter. Cadence Bank boosted its stake in shares of Accenture by 0.7% during the first quarter. Cadence Bank now owns 4,999 shares of the information technology services provider’s stock valued at $1,686,000 after purchasing an additional 36 shares in the last quarter. Evoke Wealth LLC increased its stake in shares of Accenture by 0.8% in the first quarter. Evoke Wealth LLC now owns 4,907 shares of the information technology services provider’s stock valued at $1,655,000 after buying an additional 37 shares during the period. Finally, Live Oak Private Wealth LLC boosted its position in Accenture by 5.4% during the 1st quarter. Live Oak Private Wealth LLC now owns 764 shares of the information technology services provider’s stock worth $258,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 555 shares of Accenture stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $166,500.00. Following the transaction, the general counsel now owns 25,601 shares of the company’s stock, valued at approximately $7,680,300. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, General Counsel Joel Unruch sold 555 shares of Accenture stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $300.00, for a total transaction of $166,500.00. Following the sale, the general counsel now directly owns 25,601 shares in the company, valued at approximately $7,680,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ellyn Shook sold 750 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $225,000.00. Following the transaction, the insider now owns 21,400 shares of the company’s stock, valued at approximately $6,420,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,389 shares of company stock valued at $3,132,777. Corporate insiders own 0.07% of the company’s stock.

Accenture Price Performance

ACN opened at $272.68 on Monday. The firm has a market capitalization of $172.48 billion, a PE ratio of 26.45, a P/E/G ratio of 2.30 and a beta of 1.22. Accenture plc has a fifty-two week low of $261.77 and a fifty-two week high of $417.37. The company’s 50-day moving average is $295.30 and its 200 day moving average is $300.99.

Accenture (NYSE:ACNGet Rating) last announced its earnings results on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.05). The company had revenue of $16.16 billion for the quarter, compared to analysts’ expectations of $16.05 billion. Accenture had a net margin of 11.13% and a return on equity of 31.50%. During the same period in the previous year, the firm earned $2.40 EPS. As a group, analysts expect that Accenture plc will post 10.69 EPS for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Thursday, July 14th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Wednesday, July 13th. Accenture’s payout ratio is currently 37.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Cowen reduced their price objective on shares of Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Citigroup reduced their target price on Accenture from $400.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, June 24th. Morgan Stanley dropped their price target on shares of Accenture from $385.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 7th. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $320.00 target price for the company. in a research note on Wednesday, June 29th. Finally, Exane BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 29th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $355.63.

Accenture Company 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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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