Royal Bank of Canada Cuts Stock Position in Accenture plc (NYSE:ACN)

Royal Bank of Canada lowered its stake in Accenture plc (NYSE:ACNFree Report) by 4.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,656,390 shares of the information technology services provider’s stock after selling 116,186 shares during the period. Royal Bank of Canada owned 0.42% of Accenture worth $932,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC boosted its stake in Accenture by 180.0% during the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Accenture during the 4th quarter valued at $27,000. Halpern Financial Inc. bought a new position in shares of Accenture during the 4th quarter valued at $31,000. Laffer Tengler Investments Inc. lifted its holdings in shares of Accenture by 142.9% during the 4th quarter. Laffer Tengler Investments Inc. now owns 102 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 60 shares during the period. Finally, Private Wealth Management Group LLC bought a new position in shares of Accenture during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 2.9 %

ACN stock traded down $8.50 during trading on Wednesday, reaching $285.72. The company’s stock had a trading volume of 3,748,985 shares, compared to its average volume of 2,628,207. The company has a market capitalization of $191.64 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 3.15 and a beta of 1.21. The company’s fifty day moving average is $306.23 and its 200-day moving average is $339.38. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

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

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th were given a dividend of $1.29 per share. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.81%. Accenture’s payout ratio is 46.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACN shares. Deutsche Bank Aktiengesellschaft cut Accenture from a “buy” rating to a “hold” rating and lowered their price target for the company from $409.00 to $295.00 in a report on Wednesday, May 15th. Redburn Atlantic increased their price target on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Citigroup lowered their price target on Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Wedbush lowered their price target on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Morgan Stanley raised their target price on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $367.50.

View Our Latest Stock Report on Accenture

Insider Activity

In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. Insiders sold a total of 28,083 shares of company stock worth $8,959,325 over the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Accenture Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

Receive News & Ratings for Accenture Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Accenture and related companies with MarketBeat.com's FREE daily email newsletter.