49 Wealth Management LLC Takes $266,000 Position in Accenture plc (NYSE:ACN)

49 Wealth Management LLC acquired a new position in Accenture plc (NYSE:ACN) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 783 shares of the information technology services provider’s stock, valued at approximately $266,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in Accenture in the fourth quarter valued at about $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings 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 buying an additional 875,723 shares during the last quarter. Winslow Capital Management LLC bought a new position in Accenture during the fourth quarter valued at approximately $288,168,000. Generation Investment Management LLP bought a new stake in Accenture in the fourth quarter worth approximately $286,220,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Accenture during the 4th quarter worth $263,421,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the transaction, the general counsel now owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Accenture Trading Up 4.2 %

Shares of ACN traded up $12.64 during mid-day trading on Friday, hitting $310.63. 3,951,627 shares of the company traded hands, compared to its average volume of 4,081,634. The business has a 50-day moving average of $299.12 and a 200 day moving average of $332.98. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The stock has a market capitalization of $194.67 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 3.46 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 analysts’ consensus estimates of $3.15 by ($0.02). The firm had revenue of $16.47 billion for 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 company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.19 EPS. As a group, analysts anticipate that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is 47.25%.

Wall Street Analyst Weigh In

ACN has been the subject of a number of recent research reports. Guggenheim reiterated a “buy” rating and issued a $395.00 price objective on shares of Accenture in a report on Friday, May 24th. Barclays cut their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Piper Sandler dropped their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Citigroup cut their price target on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Piper Sandler Companies cut their price target on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $351.82.

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.