Accenture plc (NYSE:ACN) Stake Lifted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its position in Accenture plc (NYSE:ACN) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,138 shares of the information technology services provider’s stock after buying an additional 439 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Accenture were worth $6,110,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ACN. Annapolis Financial Services LLC grew its stake in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in Accenture during the fourth quarter worth approximately $29,000. Atwood & Palmer Inc. increased its holdings in shares of Accenture by 214.8% in the first 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. Unique Wealth Strategies LLC acquired a new stake in shares of Accenture during the 2nd quarter valued at $26,000. Finally, Grayhawk Investment Strategies Inc. acquired a new position in shares of Accenture in the 4th quarter worth $35,000. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 1.3 %

Shares of ACN opened at $354.12 on Tuesday. The stock’s 50-day moving average price is $329.17 and its 200 day moving average price is $322.90. 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 $221.92 billion, a price-to-earnings ratio of 32.43, a P/E/G ratio of 3.82 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its 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). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period last year, the business earned $3.19 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.46%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $382.00 to $300.00 in a research note on Wednesday, June 26th. Bank of America decreased their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Susquehanna cut their price objective on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Friday, June 21st. TD Cowen boosted their target price on Accenture from $293.00 to $321.00 and gave the company a “hold” rating in a research note on Thursday, September 12th. Finally, Mizuho reduced their price target on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $354.68.

Insider Activity at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on 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 completion of the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ellyn Shook sold 5,000 shares of the 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 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 90 days. 0.07% of the stock is owned by corporate insiders.

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.