Curi RMB Capital LLC Decreases Stock Position in Accenture plc (NYSE:ACN)

Curi RMB Capital LLC cut its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 60,764 shares of the information technology services provider's stock after selling 10,733 shares during the period. Curi RMB Capital LLC's holdings in Accenture were worth $21,376,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ACN. Epoch Investment Partners Inc. boosted its stake in Accenture by 0.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 283,744 shares of the information technology services provider's stock worth $99,818,000 after buying an additional 864 shares during the last quarter. Forum Financial Management LP grew its position in Accenture by 2.8% in the 4th quarter. Forum Financial Management LP now owns 4,646 shares of the information technology services provider's stock valued at $1,634,000 after acquiring an additional 127 shares in the last quarter. GeoWealth Management LLC lifted its holdings in Accenture by 2.9% during the 4th quarter. GeoWealth Management LLC now owns 7,373 shares of the information technology services provider's stock worth $2,594,000 after buying an additional 210 shares in the last quarter. Capital International Ltd. CA grew its stake in Accenture by 5.6% during the 4th quarter. Capital International Ltd. CA now owns 6,235 shares of the information technology services provider's stock worth $2,193,000 after purchasing an additional 329 shares in the last quarter. Finally, Commerce Bank raised its holdings in Accenture by 2.3% in the fourth quarter. Commerce Bank now owns 49,016 shares of the information technology services provider's stock valued at $17,243,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Price Performance

Shares of NYSE:ACN traded up $2.95 during trading on Thursday, hitting $291.11. 1,996,441 shares of the stock were exchanged, compared to its average volume of 3,416,653. The company has a market cap of $182.33 billion, a PE ratio of 24.41, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $319.94 and a two-hundred day moving average price of $348.16. Accenture plc has a 12-month low of $275.01 and a 12-month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results 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 company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.77 earnings per share. On average, analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a $1.48 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.03%. Accenture's dividend payout ratio is presently 48.89%.

Insider Transactions at Accenture

In other news, CAO Melissa A. Burgum sold 232 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares of the company's stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. This represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,791 shares of company stock valued at $6,978,161 in the last ninety days. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent analyst reports. Barclays dropped their price objective on Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Guggenheim reduced their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Jefferies Financial Group cut their target price on shares of Accenture from $385.00 to $355.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Finally, BMO Capital Markets raised their price objective on shares of Accenture to $355.00 and gave the stock a "hold" rating in a research report on Wednesday, March 26th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $377.82.

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.