Accenture plc (NYSE:ACN) Shares Purchased by Marcum Wealth LLC

Marcum Wealth LLC raised its holdings in Accenture plc (NYSE:ACN) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,343 shares of the information technology services provider’s stock after acquiring an additional 74 shares during the quarter. Marcum Wealth LLC’s holdings in Accenture were worth $731,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ACN. FPC Investment Advisory Inc. grew its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Accenture during the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter worth approximately $30,000. POM Investment Strategies LLC increased its stake in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Accenture during the fourth quarter worth $31,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets lifted their target price on shares of Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Mizuho lowered their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $382.14.

Accenture Price Performance

ACN opened at $317.81 on Friday. Accenture plc has a 1 year low of $275.01 and a 1 year high of $398.35. The company’s 50 day simple moving average is $302.48 and its 200 day simple moving average is $339.04. The stock has a market capitalization of $199.05 billion, a PE ratio of 26.66, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $2.77 EPS. As a group, sell-side analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.86%. Accenture’s dividend payout ratio (DPR) is 48.89%.

Insider Transactions at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer now directly owns 15,882 shares of the company’s stock, valued at $5,161,650. This trade represents a 13.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by company insiders.

Accenture Company 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.