Atlantic Union Bankshares Corp Reduces Position in Accenture PLC $ACN

Atlantic Union Bankshares Corp lessened its position in shares of Accenture PLC (NYSE:ACN) by 4.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,263 shares of the information technology services provider’s stock after selling 2,970 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Accenture were worth $15,632,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new position in Accenture during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC purchased a new position in Accenture during the 4th quarter worth approximately $27,000. Triumph Capital Management purchased a new position in Accenture during the 3rd quarter worth approximately $26,000. Private Wealth Management Group LLC lifted its position in Accenture by 96.4% during the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 53 shares during the period. Finally, Steph & Co. lifted its position in Accenture by 107.5% during the 4th quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $169.90 on Wednesday. The stock has a fifty day moving average price of $193.20 and a 200 day moving average price of $232.98. The stock has a market cap of $113.06 billion, a PE ratio of 13.91, a P/E/G ratio of 1.64 and a beta of 1.08. Accenture PLC has a 1 year low of $169.76 and a 1 year high of $325.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 earnings per share. Sell-side analysts forecast that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.8%. Accenture’s payout ratio is currently 53.40%.

Analysts Set New Price Targets

A number of analysts have weighed in on ACN shares. Guggenheim decreased their price objective on Accenture from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Piper Sandler set a $282.00 price objective on Accenture in a research report on Thursday, March 5th. Mizuho decreased their price objective on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. Robert W. Baird decreased their price objective on Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Royal Bank Of Canada decreased their price objective on Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $274.50.

Insider Transactions at Accenture

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.