Amalgamated Bank Sells 8,155 Shares of Accenture plc (NYSE:ACN)

Amalgamated Bank cut its stake in shares of Accenture plc (NYSE:ACN) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,067 shares of the information technology services provider’s stock after selling 8,155 shares during the quarter. Amalgamated Bank’s holdings in Accenture were worth $54,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in ACN. Vanguard Group Inc. lifted its stake in Accenture by 0.3% in the third quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after acquiring an additional 184,541 shares during the period. FMR LLC lifted its stake in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock valued at $4,089,485,000 after purchasing an additional 565,505 shares during the period. Wellington Management Group LLP grew its stake in Accenture by 7.0% in the third quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after purchasing an additional 720,647 shares during the period. Northern Trust Corp boosted its holdings in shares of Accenture by 5.6% during the 3rd quarter. Northern Trust Corp now owns 8,285,864 shares of the information technology services provider’s stock valued at $2,544,672,000 after buying an additional 443,004 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Accenture by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,398,049 shares of the information technology services provider’s stock valued at $1,340,568,000 after acquiring an additional 20,876 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.6 %

Shares of ACN stock traded up $1.68 during trading hours on Thursday, reaching $300.34. 2,683,420 shares of the company’s stock were exchanged, compared to its average volume of 2,492,604. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51. The company has a market cap of $201.45 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 2.85 and a beta of 1.21. The stock’s 50 day moving average is $345.84 and its 200-day moving average is $342.03.

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

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be issued a $1.29 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.72%. Accenture’s dividend payout ratio is presently 46.78%.

Insider Buying and Selling

In other Accenture news, CEO Manish Sharma sold 1,486 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the transaction, the chief executive officer now directly owns 4,503 shares in the company, valued at approximately $1,667,866.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kathleen R. Mcclure sold 2,070 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $370.32, for a total transaction of $766,562.40. Following the transaction, the chief financial officer now owns 47,110 shares of the company’s stock, valued at $17,445,775.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Manish Sharma sold 1,486 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $370.39, for a total value of $550,399.54. Following the transaction, the chief executive officer now owns 4,503 shares in the company, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,639 shares of company stock worth $10,276,287. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Susquehanna reissued a “neutral” rating and issued a $360.00 price target (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Royal Bank of Canada increased their price objective on shares of Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. UBS Group lifted their target price on Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Guggenheim assumed coverage on shares of Accenture in a report on Tuesday, March 19th. They set a “buy” rating and a $425.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $387.00.

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.