Accenture plc (NYSE:ACN) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky lowered its stake in shares of Accenture plc (NYSE:ACN) by 2.1% in the first quarter, HoldingsChannel reports. The firm owned 6,055 shares of the information technology services provider’s stock after selling 130 shares during the quarter. Independence Bank of Kentucky’s holdings in Accenture were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in ACN. Webster Bank N. A. increased its holdings in shares of Accenture by 8.6% in the 1st quarter. Webster Bank N. A. now owns 9,155 shares of the information technology services provider’s stock worth $3,173,000 after acquiring an additional 724 shares during the period. KRS Capital Management LLC grew its position in Accenture by 12.6% in the 1st quarter. KRS Capital Management LLC now owns 1,876 shares of the information technology services provider’s stock worth $650,000 after purchasing an additional 210 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Accenture by 12.1% during the first quarter. Astoria Portfolio Advisors LLC. now owns 1,756 shares of the information technology services provider’s stock valued at $609,000 after buying an additional 189 shares during the last quarter. Norway Savings Bank boosted its position in shares of Accenture by 6.8% during the first quarter. Norway Savings Bank now owns 3,667 shares of the information technology services provider’s stock worth $1,271,000 after buying an additional 235 shares during the period. Finally, Kathmere Capital Management LLC grew its holdings in Accenture by 19.4% in the 1st quarter. Kathmere Capital Management LLC now owns 1,486 shares of the information technology services provider’s stock worth $515,000 after buying an additional 241 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACN. Piper Sandler Companies reduced their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. TD Cowen lowered their target price on shares of Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a research note on Friday, June 21st. Wedbush reduced their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Piper Sandler lowered their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, June 17th. Finally, Jefferies Financial Group decreased their price target on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $352.74.

Insider Buying and Selling

In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the transaction, the general counsel now owns 30,702 shares of the company’s stock, valued at approximately $9,705,516.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,083 shares of company stock worth $6,302,285. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Up 0.1 %

Shares of Accenture stock traded up $0.22 during trading on Friday, hitting $303.41. The stock had a trading volume of 14,905,693 shares, compared to its average volume of 4,036,297. The company has a market capitalization of $203.51 billion, a PE ratio of 27.80, a P/E/G ratio of 3.38 and a beta of 1.21. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a 50 day simple moving average of $300.17 and a 200 day simple moving average of $336.15.

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 firm had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. During the same period last year, the firm earned $3.19 earnings per share. Accenture’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.70%. Accenture’s payout ratio is 47.25%.

About Accenture

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.