Park Edge Advisors LLC Purchases 275 Shares of Accenture plc (NYSE:ACN)

Park Edge Advisors LLC grew its holdings in shares of Accenture plc (NYSE:ACN) by 44.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 900 shares of the information technology services provider’s stock after purchasing an additional 275 shares during the quarter. Park Edge Advisors LLC’s holdings in Accenture were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new position in shares of Accenture during the 4th quarter worth $27,000. Annapolis Financial Services LLC grew its holdings in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture in the fourth quarter worth about $29,000. Atwood & Palmer Inc. lifted its position in shares of Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in Accenture during the second quarter valued at approximately $26,000. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

NYSE:ACN traded up $3.60 during mid-day trading on Tuesday, hitting $340.38. The company’s stock had a trading volume of 2,154,057 shares, compared to its average volume of 2,830,246. 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 $213.31 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 3.66 and a beta of 1.23. The business’s fifty day moving average is $316.50 and its two-hundred day moving average is $325.73.

Accenture (NYSE:ACN) last released its quarterly earnings data 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). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter in the prior year, the company posted $3.19 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were paid a dividend of $1.29 per share. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.52%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Activity

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the completion of the sale, the chief financial officer now owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total value of $1,649,100.00. Following the completion of the transaction, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The disclosure for this sale can be found here. Insiders sold 21,421 shares of company stock worth $6,912,635 over the last three months. Insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ACN shares. Wedbush decreased their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and lowered their price objective for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Susquehanna decreased their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, June 21st. Mizuho dropped their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Finally, Barclays reduced their price objective on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $352.33.

Accenture 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.