Vivid Wealth Management LLC Makes New Investment in Accenture plc (NYSE:ACN)

Vivid Wealth Management LLC bought a new position in Accenture plc (NYSE:ACN) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,018 shares of the information technology services provider’s stock, valued at approximately $2,190,000.

Several other hedge funds also recently bought and sold shares of ACN. Inscription Capital LLC acquired a new stake in shares of Accenture during the first quarter worth $2,628,000. Louisbourg Investments Inc. raised its holdings in shares of Accenture by 24.1% during the first quarter. Louisbourg Investments Inc. now owns 10,985 shares of the information technology services provider’s stock worth $3,428,000 after acquiring an additional 2,130 shares during the period. Grove Bank & Trust raised its holdings in shares of Accenture by 2.2% during the first quarter. Grove Bank & Trust now owns 10,529 shares of the information technology services provider’s stock worth $3,285,000 after acquiring an additional 226 shares during the period. Grimes & Company Inc. raised its holdings in shares of Accenture by 1.7% during the first quarter. Grimes & Company Inc. now owns 66,645 shares of the information technology services provider’s stock worth $20,796,000 after acquiring an additional 1,142 shares during the period. Finally, Precedent Wealth Partners LLC raised its holdings in shares of Accenture by 21.0% during the first quarter. Precedent Wealth Partners LLC now owns 5,252 shares of the information technology services provider’s stock worth $1,639,000 after acquiring an additional 912 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on ACN. Wall Street Zen lowered shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Piper Sandler decreased their target price on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price for the company in a research report on Monday, March 17th. Barclays decreased their target price on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Mizuho decreased their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $380.00.

Accenture Stock Performance

NYSE ACN opened at $314.12 on Tuesday. The firm has a 50-day moving average of $306.16 and a 200-day moving average of $335.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $196.74 billion, a PE ratio of 26.35, a P/E/G ratio of 3.23 and a beta of 1.33. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35.

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

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction dated 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 in the company, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

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.