Accenture plc (NYSE:ACN) Position Raised by Austin Private Wealth LLC

Austin Private Wealth LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 36.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,471 shares of the information technology services provider’s stock after purchasing an additional 390 shares during the quarter. Austin Private Wealth LLC’s holdings in Accenture were worth $446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ACN. GW Henssler & Associates Ltd. acquired a new position in Accenture during the fourth quarter worth about $226,000. Financial Counselors Inc. grew its holdings in Accenture by 3.4% during the fourth quarter. Financial Counselors Inc. now owns 17,660 shares of the information technology services provider’s stock worth $6,197,000 after acquiring an additional 576 shares during the period. Cerity Partners LLC grew its holdings in Accenture by 32.2% during the fourth quarter. Cerity Partners LLC now owns 295,620 shares of the information technology services provider’s stock worth $103,736,000 after acquiring an additional 72,005 shares during the period. Janiczek Wealth Management LLC grew its holdings in Accenture by 10.3% during the fourth quarter. Janiczek Wealth Management LLC now owns 2,273 shares of the information technology services provider’s stock worth $798,000 after acquiring an additional 212 shares during the period. Finally, Sapient Capital LLC acquired a new position in Accenture during the fourth quarter worth about $24,194,000. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 in the last three months. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ACN. Mizuho lowered their target price on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Stifel Nicolaus dropped their price target on Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Susquehanna dropped their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Finally, Robert W. Baird dropped their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research note on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $351.82.

Accenture Price Performance

ACN traded down $0.05 on Friday, hitting $315.83. The company had a trading volume of 1,851,305 shares, compared to its average volume of 2,906,728. The company’s fifty day moving average price is $307.84 and its 200 day moving average price is $329.29. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a market cap of $197.93 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.19 earnings per share. On average, sell-side analysts forecast that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

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.