Petros Family Wealth LLC Increases Stock Holdings in Accenture PLC (NYSE:ACN)

Petros Family Wealth LLC raised its position in shares of Accenture PLC (NYSE:ACN) by 23.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,215 shares of the information technology services provider’s stock after purchasing an additional 812 shares during the quarter. Accenture accounts for 1.5% of Petros Family Wealth LLC’s portfolio, making the stock its 18th largest position. Petros Family Wealth LLC’s holdings in Accenture were worth $1,315,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in Accenture by 16.8% during the 4th 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. Alteri Wealth LLC purchased a new stake in Accenture during the 4th quarter valued at about $321,000. Proficio Capital Partners LLC grew its stake in Accenture by 47.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider’s stock valued at $861,000 after purchasing an additional 789 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Accenture during the 4th quarter valued at about $317,000. Finally, Exchange Traded Concepts LLC grew its stake in Accenture by 62.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the transaction, the chief operating officer now owns 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by corporate insiders.

Accenture Stock Performance

NYSE ACN opened at $295.03 on Tuesday. The company has a market cap of $184.79 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 2.85 and a beta of 1.33. The stock’s 50 day simple moving average is $307.08 and its 200-day simple moving average is $333.04. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48.

Accenture (NYSE:ACN) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.17. The business had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.13 earnings per share. As a group, equities research analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.01%. Accenture’s payout ratio is 47.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ACN shares. JPMorgan Chase & Co. boosted their price objective on Accenture from $349.00 to $353.00 and gave the company an “overweight” rating in a report on Monday, June 16th. Morgan Stanley decreased their price objective on Accenture from $372.00 to $340.00 and set an “equal weight” rating for the company in a report on Thursday, June 12th. Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a report on Monday, March 17th. Finally, UBS Group reissued a “buy” rating and issued a $395.00 price objective (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and an average target price of $374.00.

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.