Fiduciary Family Office LLC Makes New $1.45 Million Investment in Accenture PLC (NYSE:ACN)

Key Points

• Fiduciary Family Office LLC purchased 4,651 shares of Accenture PLC, valued at approximately $1.45 million, in the first quarter of the year.
• Accenture has experienced significant activity from institutional investors, with 75.14% of its stock owned by such entities.
• The company has a current market cap of $149.74 billion and recently announced a quarterly dividend of $1.48, reflecting a yield of 2.5%.

Fiduciary Family Office LLC bought a new position in shares of Accenture PLC (NYSE:ACN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,651 shares of the information technology services provider's stock, valued at approximately $1,451,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Accenture by 36.2% in the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after purchasing an additional 4,905 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Accenture during the fourth quarter worth $317,000. F M Investments LLC acquired a new stake in Accenture during the fourth quarter worth $206,000. Phoenix Financial Ltd. increased its stake in Accenture by 19.7% during the fourth quarter. Phoenix Financial Ltd. now owns 13,361 shares of the information technology services provider's stock worth $4,701,000 after acquiring an additional 2,198 shares during the last quarter. Finally, Eley Financial Management Inc increased its stake in Accenture by 1.8% during the fourth quarter. Eley Financial Management Inc now owns 10,873 shares of the information technology services provider's stock worth $3,825,000 after acquiring an additional 191 shares during the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACN has been the subject of a number of research reports. Piper Sandler dropped their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Guggenheim lowered their target price on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Hsbc Global Res raised Accenture to a "moderate sell" rating in a research note on Monday, July 28th. UBS Group reaffirmed a "buy" rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Finally, Mizuho set a $348.00 price target on Accenture and gave the stock an "outperform" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $360.21.

Insider Activity at Accenture

In other news, COO John F. Walsh sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer directly owned 15,882 shares of the company's stock, valued at approximately $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,454 shares of company stock valued at $1,646,780. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

Shares of NYSE:ACN traded down $0.72 during trading on Monday, hitting $238.48. 4,674,508 shares of the company traded hands, compared to its average volume of 4,516,160. Accenture PLC has a one year low of $236.96 and a one year high of $398.35. The stock has a market capitalization of $149.37 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 2.18 and a beta of 1.29. The business's fifty day moving average is $289.64 and its 200-day moving average is $314.40. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion during 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 firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.13 earnings per share. As a group, equities analysts predict that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.5%. Accenture's dividend payout ratio is 47.13%.

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.