Boomfish Wealth Group LLC Grows Stock Position in Accenture plc (NYSE:ACN)

Boomfish Wealth Group LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,821 shares of the information technology services provider’s stock after purchasing an additional 728 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Accenture were worth $1,463,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ACN. Norges Bank purchased a new stake in shares of Accenture during the fourth quarter worth approximately $2,061,490,000. Swedbank AB purchased a new position in Accenture in the first quarter worth $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Accenture by 100.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock worth $614,615,000 after acquiring an additional 875,723 shares in the last quarter. Winslow Capital Management LLC purchased a new position in Accenture in the fourth quarter worth $288,168,000. Finally, Generation Investment Management LLP purchased a new position in Accenture in the fourth quarter worth $286,220,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total value of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the sale, the insider now directly owns 8,989 shares in the company, valued at approximately $2,964,751.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the sale, the general counsel now owns 22,849 shares in the company, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock worth $6,912,635 in the last three months. 0.07% of the stock is currently owned by company insiders.

Accenture Stock Performance

NYSE ACN traded up $1.79 during trading hours on Friday, hitting $326.92. 2,292,799 shares of the company’s stock were exchanged, compared to its average volume of 2,881,293. The business’s 50 day moving average is $311.12 and its 200-day moving average is $327.53. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm has a market capitalization of $204.88 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last released its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The business had revenue of $16.47 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $3.19 earnings per share. As a group, equities research analysts anticipate that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were issued a $1.29 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.58%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Analyst Ratings Changes

Several research analysts have issued reports on ACN shares. Stifel Nicolaus cut their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Robert W. Baird cut their price objective on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Friday, July 19th. Bank of America lowered their target price on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Barclays lowered their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $351.82.

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.