Marco Investment Management LLC Sells 50 Shares of Accenture plc (NYSE:ACN)

Marco Investment Management LLC lowered its stake in Accenture plc (NYSE:ACN) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 10,195 shares of the information technology services provider’s stock after selling 50 shares during the quarter. Marco Investment Management LLC’s holdings in Accenture were worth $3,578,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ACN. Trust Co. of Toledo NA OH lifted its stake in Accenture by 93.0% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 3,009 shares of the information technology services provider’s stock worth $924,000 after purchasing an additional 1,450 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Accenture by 21.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 6,474 shares of the information technology services provider’s stock worth $1,988,000 after purchasing an additional 1,164 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Accenture by 1.0% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 5,217 shares of the information technology services provider’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Lantz Financial LLC raised its position in shares of Accenture by 1.7% during the 3rd quarter. Lantz Financial LLC now owns 2,095 shares of the information technology services provider’s stock valued at $643,000 after buying an additional 36 shares in the last quarter. Finally, Covenant Partners LLC raised its position in shares of Accenture by 6.2% during the 3rd quarter. Covenant Partners LLC now owns 6,626 shares of the information technology services provider’s stock valued at $2,035,000 after buying an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 0.3 %

Shares of NYSE ACN traded down $0.99 during midday trading on Friday, reaching $308.01. 3,371,848 shares of the company’s stock traded hands, compared to its average volume of 2,670,314. The stock’s 50 day simple moving average is $349.66 and its 200-day simple moving average is $342.35. Accenture plc has a one year low of $261.68 and a one year high of $387.51. The company has a market cap of $206.59 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.92 and a beta of 1.19.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. Accenture’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a dividend of $1.29 per share. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.68%. Accenture’s payout ratio is 46.78%.

Insider Activity at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the 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 completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Kathleen R. Mcclure sold 851 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $371.77, for a total transaction of $316,376.27. Following the completion of the transaction, the chief financial officer now owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was 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 approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders sold 32,490 shares of company stock valued at $10,592,664 over the last 90 days. Insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACN. Morgan Stanley upped their target price on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. UBS Group upped their target price on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price on the stock in a research report on Wednesday, January 17th. Susquehanna reissued a “neutral” rating and issued a $360.00 price objective (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Finally, Mizuho reissued a “buy” rating and issued a $398.00 price objective (down from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $387.00.

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.