Brady Family Wealth LLC Reduces Stock Position in Accenture PLC (NYSE:ACN)

Brady Family Wealth LLC cut its position in Accenture PLC (NYSE:ACN) by 1.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,871 shares of the information technology services provider’s stock after selling 252 shares during the period. Accenture makes up about 2.4% of Brady Family Wealth LLC’s investment portfolio, making the stock its 10th largest holding. Brady Family Wealth LLC’s holdings in Accenture were worth $7,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Accenture in the 4th quarter worth $2,351,683,000. GAMMA Investing LLC raised its position in Accenture by 30,256.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock worth $1,067,651,000 after buying an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP lifted its stake in Accenture by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after acquiring an additional 2,260,740 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Accenture during the 4th quarter valued at about $666,495,000. Finally, Capital Research Global Investors raised its holdings in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their target price on Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price objective on Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho decreased their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Wall Street Zen lowered shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price objective on shares of Accenture from $372.00 to $340.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 12th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.00.

Accenture Stock Down 1.9%

NYSE:ACN opened at $306.11 on Friday. The company has a market cap of $191.72 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 3.09 and a beta of 1.33. Accenture PLC has a twelve month low of $275.01 and a twelve month high of $398.35. The stock has a fifty day simple moving average of $306.94 and a 200-day simple moving average of $334.32. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its 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 business had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.49% and a net margin of 11.43%. Accenture’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.77 EPS. Analysts anticipate that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.93%. Accenture’s dividend payout ratio is currently 48.89%.

Insider Transactions at Accenture

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction 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 represents a 18.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela Beatty sold 169 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now directly owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,516 shares of company stock valued at $2,507,366. Company insiders own 0.02% 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.