Icon Wealth Advisors LLC Has $65.58 Million Position in Accenture plc (NYSE:ACN)

Icon Wealth Advisors LLC lowered its stake in shares of Accenture plc (NYSE:ACN) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,204 shares of the information technology services provider’s stock after selling 1,405 shares during the quarter. Accenture comprises approximately 6.1% of Icon Wealth Advisors LLC’s holdings, making the stock its 2nd largest holding. Icon Wealth Advisors LLC’s holdings in Accenture were worth $65,580,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ACN. Chilton Capital Management LLC increased its position in shares of Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 45 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of Accenture in the 4th quarter valued at $27,000. Annapolis Financial Services LLC lifted its holdings in shares of Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Accenture during the 4th quarter valued at about $29,000. Finally, Atwood & Palmer Inc. raised its position in Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $382.00 to $300.00 in a report on Wednesday, June 26th. Susquehanna reduced their price target on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft cut shares of Accenture from a “buy” rating to a “hold” rating and cut their target price for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Mizuho decreased their price target on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Finally, Guggenheim reiterated a “buy” rating and issued a $395.00 price objective on shares of Accenture in a research report on Friday, May 24th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $351.82.

Accenture Price Performance

Shares of Accenture stock traded up $3.00 during trading hours on Tuesday, hitting $329.20. The company’s stock had a trading volume of 1,985,285 shares, compared to its average volume of 2,931,302. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a market capitalization of $206.31 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. The stock has a 50 day moving average of $304.02 and a 200 day moving average of $331.33.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 earnings per share. Equities analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a dividend of $1.29 per share. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.57%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Transactions at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 8,989 shares in the company, valued at $2,964,751.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction 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 sale, the insider now owns 8,989 shares in the company, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, 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 sold a total of 21,421 shares of company stock worth $6,912,635 in the last three months. Insiders own 0.07% of the company’s stock.

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.