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

Amalgamated Bank trimmed its position in Accenture plc (NYSE:ACN) by 5.0% during the 4th quarter, HoldingsChannel reports. The firm owned 156,067 shares of the information technology services provider’s stock after selling 8,155 shares during the period. Amalgamated Bank’s holdings in Accenture were worth $54,765,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ACN. Brave Asset Management Inc. raised its position in shares of Accenture by 2.8% in the fourth quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock valued at $361,000 after buying an additional 28 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Accenture by 0.9% during the 4th quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after purchasing an additional 28 shares during the last quarter. Searle & CO. grew its position in shares of Accenture by 3.6% in the fourth quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 28 shares in the last quarter. KMG Fiduciary Partners LLC increased its holdings in shares of Accenture by 4.0% in the fourth quarter. KMG Fiduciary Partners LLC now owns 760 shares of the information technology services provider’s stock valued at $267,000 after purchasing an additional 29 shares during the last quarter. Finally, Carr Financial Group Corp boosted its stake in Accenture by 2.4% during the fourth quarter. Carr Financial Group Corp now owns 1,245 shares of the information technology services provider’s stock worth $437,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Redburn Atlantic raised their target price on Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Morgan Stanley raised their price objective on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Royal Bank of Canada upped their price target on Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, BNP Paribas upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Wednesday, January 17th. Eight equities 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.00.

Insider Buying and Selling

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

Accenture Trading Up 0.6 %

ACN stock traded up $1.68 on Thursday, hitting $300.34. The company’s stock had a trading volume of 2,683,420 shares, compared to its average volume of 2,492,604. Accenture plc has a 1 year low of $261.68 and a 1 year high of $387.51. The stock has a market cap of $201.45 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 2.85 and a beta of 1.21. The firm has a 50 day moving average of $345.84 and a two-hundred day moving average of $342.03.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same period last year, the company earned $2.69 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts forecast that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 annualized dividend and a yield of 1.72%. Accenture’s payout ratio is currently 46.78%.

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.