Accenture plc (NYSE:ACN) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. reduced its holdings in Accenture plc (NYSE:ACNFree Report) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,894 shares of the information technology services provider’s stock after selling 1,415 shares during the quarter. Freedom Investment Management Inc.’s holdings in Accenture were worth $4,174,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Accenture in the fourth quarter valued at $2,061,490,000. Winslow Capital Management LLC purchased a new stake in Accenture during the fourth quarter valued at about $288,168,000. Generation Investment Management LLP purchased a new stake in Accenture during the fourth quarter valued at about $286,220,000. Public Employees Retirement Association of Colorado purchased a new stake in Accenture during the fourth quarter valued at about $263,421,000. Finally, Wellington Management Group LLP lifted its stake in shares of Accenture by 7.0% during 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 in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the firm’s 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 directly owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Joel Unruch sold 4,333 shares of Accenture 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 sale, the general counsel now directly owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction dated 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 sale, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,083 shares of company stock worth $8,959,325. Corporate insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut Accenture from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $409.00 to $295.00 in a research note on Wednesday, May 15th. BMO Capital Markets reduced their price objective on Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group reduced their price objective on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Guggenheim restated a “buy” rating and set a $395.00 price objective on shares of Accenture in a research note on Friday, May 24th. Finally, Wedbush reduced their price objective on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday. 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.50.

Read Our Latest Research Report on ACN

Accenture Stock Down 1.2 %

Shares of Accenture stock traded down $3.41 during midday trading on Thursday, hitting $282.32. The company’s stock had a trading volume of 3,116,415 shares, compared to its average volume of 2,632,498. The firm has a market capitalization of $189.36 billion, a P/E ratio of 25.65, a PEG ratio of 3.15 and a beta of 1.21. The stock has a 50-day simple moving average of $306.23 and a 200-day simple moving average of $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 earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. Accenture’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.69 earnings per share. As a group, sell-side analysts predict 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. Investors of record on Thursday, April 11th were issued a dividend of $1.29 per share. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.83%. Accenture’s dividend payout ratio is 46.78%.

About Accenture

(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.

Further Reading

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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