Accenture plc (NYSE:ACN) Shares Acquired by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC lifted its position in shares of Accenture plc (NYSE:ACN) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,179 shares of the information technology services provider’s stock after buying an additional 49 shares during the period. IVC Wealth Advisors LLC’s holdings in Accenture were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Accenture during the 1st quarter worth approximately $68,000. KFG Wealth Management LLC boosted its position in shares of Accenture by 3.1% during the 1st quarter. KFG Wealth Management LLC now owns 1,351 shares of the information technology services provider’s stock worth $468,000 after purchasing an additional 41 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Accenture by 12.6% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,830 shares of the information technology services provider’s stock worth $2,714,000 after purchasing an additional 876 shares during the period. Azzad Asset Management Inc. ADV boosted its position in shares of Accenture by 0.9% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,381 shares of the information technology services provider’s stock worth $2,212,000 after purchasing an additional 54 shares during the period. Finally, Hedeker Wealth LLC boosted its position in shares of Accenture by 0.4% during the 1st quarter. Hedeker Wealth LLC now owns 13,703 shares of the information technology services provider’s stock worth $4,750,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACN. Stifel Nicolaus lowered their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Piper Sandler decreased their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Morgan Stanley cut shares of Accenture from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $382.00 to $300.00 in a research report on Wednesday, June 26th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Piper Sandler Companies decreased their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $352.74.

Accenture Price Performance

ACN stock traded up $1.92 on Wednesday, hitting $305.75. 1,751,182 shares of the company were exchanged, compared to its average volume of 2,899,779. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The business’s fifty day moving average is $299.60 and its two-hundred day moving average is $335.48. The stock has a market capitalization of $191.61 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (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 business had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. Accenture’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.69%. Accenture’s dividend payout ratio is currently 47.25%.

Insiders Place Their Bets

In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now directly owns 161,581 shares in the company, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the transaction, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The disclosure for this sale can be found here. Insiders sold a total of 20,083 shares of company stock worth $6,302,285 over the last ninety days. 0.07% of the stock is owned by company insiders.

About Accenture

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.