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Williams Jones Wealth Management LLC. Lowers Stock Position in Accenture plc (NYSE:ACN)

Williams Jones Wealth Management LLC. cut its holdings in shares of Accenture plc (NYSE:ACNGet Rating) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 590,626 shares of the information technology services provider’s stock after selling 4,309 shares during the quarter. Accenture accounts for 2.8% of Williams Jones Wealth Management LLC.’s holdings, making the stock its 6th largest position. Williams Jones Wealth Management LLC.’s holdings in Accenture were worth $199,177,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Accenture by 0.8% in the first quarter. Vanguard Group Inc. now owns 56,646,379 shares of the information technology services provider’s stock valued at $19,102,859,000 after acquiring an additional 443,821 shares during the last quarter. BlackRock Inc. increased its stake in Accenture by 2.2% in the first quarter. BlackRock Inc. now owns 47,216,394 shares of the information technology services provider’s stock valued at $15,922,783,000 after acquiring an additional 1,001,022 shares during the last quarter. State Street Corp increased its stake in Accenture by 3.2% in the fourth quarter. State Street Corp now owns 26,117,172 shares of the information technology services provider’s stock valued at $10,826,880,000 after acquiring an additional 817,970 shares during the last quarter. Geode Capital Management LLC increased its stake in Accenture by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 10,724,559 shares of the information technology services provider’s stock valued at $4,434,616,000 after acquiring an additional 290,325 shares during the last quarter. Finally, Norges Bank bought a new position in Accenture in the fourth quarter valued at approximately $2,346,198,000. 73.73% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 750 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider now directly owns 21,400 shares of the company’s stock, valued at $6,420,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Ellyn Shook sold 750 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $300.00, for a total transaction of $225,000.00. Following the completion of the sale, the insider now directly owns 21,400 shares of the company’s stock, valued at $6,420,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 3,278 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $270.93, for a total transaction of $888,108.54. Following the sale, the chief executive officer now directly owns 16,978 shares of the company’s stock, valued at $4,599,849.54. The disclosure for this sale can be found here. Insiders sold a total of 11,389 shares of company stock valued at $3,132,777 over the last three months. Corporate insiders own 0.07% of the company’s stock.

Accenture Trading Up 0.9 %

Shares of NYSE ACN opened at $290.55 on Friday. The firm’s 50-day moving average price is $295.06 and its 200-day moving average price is $302.35. Accenture plc has a 1-year low of $261.77 and a 1-year high of $417.37. The firm has a market capitalization of $183.79 billion, a P/E ratio of 28.18, a P/E/G ratio of 2.41 and a beta of 1.22.

Accenture (NYSE:ACNGet Rating) last announced its quarterly earnings data on Thursday, June 23rd. The information technology services provider reported $2.79 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.05). Accenture had a net margin of 11.13% and a return on equity of 31.50%. The company had revenue of $16.16 billion for the quarter, compared to analyst estimates of $16.05 billion. During the same quarter in the prior year, the company posted $2.40 EPS. Equities research analysts forecast that Accenture plc will post 10.68 EPS for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Thursday, July 14th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, July 13th. Accenture’s payout ratio is presently 37.63%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Exane BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 29th. Citigroup decreased their target price on shares of Accenture from $400.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, June 24th. BMO Capital Markets assumed coverage on shares of Accenture in a research note on Friday, June 24th. They set a “hold” rating and a $337.00 target price on the stock. Cowen decreased their target price on shares of Accenture from $330.00 to $325.00 and set an “outperform” rating on the stock in a research note on Friday, June 24th. Finally, Piper Sandler cut their price target on shares of Accenture from $305.00 to $281.00 and set a “neutral” rating on the stock in a report on Monday, July 18th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $358.17.

Accenture Profile

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Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.

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