Fortis Capital Advisors LLC Purchases Shares of 3,282 Accenture PLC $ACN

Key Points

• Fortis Capital Advisors LLC acquired 3,282 shares of Accenture PLC, valued at approximately $1,024,000, indicating growing institutional interest in the company.
• Accenture exceeded earnings expectations with $3.49 EPS for the most recent quarter, beating estimates of $3.32, while revenue rose to $17.73 billion.
• The company announced a quarterly dividend of $1.48, yielding 2.3%, with a payout ratio of 47.13% as of the latest report.

Fortis Capital Advisors LLC purchased a new position in shares of Accenture PLC (NYSE:ACN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,282 shares of the information technology services provider's stock, valued at approximately $1,024,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC boosted its position in Accenture by 113.2% in the 1st quarter. Belpointe Asset Management LLC now owns 4,659 shares of the information technology services provider's stock valued at $1,454,000 after buying an additional 2,474 shares during the last quarter. Intech Investment Management LLC boosted its position in Accenture by 40.5% in the 1st quarter. Intech Investment Management LLC now owns 98,633 shares of the information technology services provider's stock valued at $30,777,000 after buying an additional 28,446 shares during the last quarter. Focus Partners Wealth boosted its position in Accenture by 4.5% in the 1st quarter. Focus Partners Wealth now owns 432,652 shares of the information technology services provider's stock valued at $135,005,000 after buying an additional 18,598 shares during the last quarter. Integrity Alliance LLC. purchased a new position in Accenture in the 1st quarter valued at about $410,000. Finally, Anchor Investment Management LLC boosted its position in Accenture by 26.0% in the 1st quarter. Anchor Investment Management LLC now owns 4,372 shares of the information technology services provider's stock valued at $1,364,000 after buying an additional 903 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Down 2.3%

Shares of ACN stock traded down $5.60 during trading hours on Friday, hitting $238.55. 5,636,222 shares of the company were exchanged, compared to its average volume of 3,573,657. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. The business's 50-day simple moving average is $263.21 and its two-hundred day simple moving average is $293.64. Accenture PLC has a one year low of $236.67 and a one year high of $398.35. The stock has a market capitalization of $149.41 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 2.10 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last issued its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter last year, the company posted $3.13 earnings per share. Accenture's revenue was up 7.7% on a year-over-year basis. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. Sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Accenture news, CEO Mauro Macchi sold 500 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the transaction, the chief executive officer owned 2,283 shares of the company's stock, valued at $644,582.22. This trade represents a 17.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela Beatty sold 203 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the transaction, the insider directly owned 5,249 shares in the company, valued at $1,482,002.66. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,954 shares of company stock valued at $834,280 over the last quarter. Insiders own 0.02% of the company's stock.

Analysts Set New Price Targets

ACN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Accenture from $290.00 to $260.00 and set a "hold" rating for the company in a research report on Thursday. Barclays decreased their price objective on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday, June 23rd. Rothschild & Co Redburn cut shares of Accenture from a "buy" rating to a "neutral" rating and set a $250.00 price objective for the company. in a research report on Wednesday, September 3rd. Mizuho set a $348.00 price target on shares of Accenture and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. Finally, Argus set a $370.00 price target on shares of Accenture in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $346.92.

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.