Edmond DE Rothschild Holding S.A. Lowers Stake in Accenture plc (NYSE:ACN)

Edmond DE Rothschild Holding S.A. cut its position in Accenture plc (NYSE:ACN) by 51.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,437 shares of the information technology services provider’s stock after selling 32,302 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Accenture were worth $10,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ACN. Baldwin Wealth Partners LLC MA grew its holdings in Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares in the last quarter. Davidson Trust Co. grew its stake in Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after acquiring an additional 158 shares in the last quarter. Franklin Street Advisors Inc. NC increased its holdings in Accenture by 126.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after acquiring an additional 22,391 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Accenture by 37.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after purchasing an additional 843 shares during the last quarter. Finally, SteelPeak Wealth LLC grew its position in shares of Accenture by 127.1% during the fourth quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock valued at $817,000 after purchasing an additional 1,300 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Up 2.8 %

ACN opened at $312.78 on Tuesday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a market capitalization of $195.90 billion, a P/E ratio of 26.24, a PEG ratio of 3.23 and a beta of 1.24. The stock’s fifty day moving average is $354.17 and its two-hundred day moving average is $355.81. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 earnings per share. Analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.89%. Accenture’s dividend payout ratio is currently 48.89%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACN. Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Stifel Nicolaus decreased their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.23.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at $10,232,419.68. The trade was a 7.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Angie Y. Park sold 685 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the sale, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by corporate insiders.

Accenture Company 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.