Accenture PLC $ACN Shares Bought by Texas Capital Bank Wealth Management Services Inc

Key Points

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Texas Capital Bank Wealth Management Services Inc raised its holdings in Accenture PLC (NYSE:ACN - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,848 shares of the information technology services provider's stock after purchasing an additional 1,577 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Accenture were worth $1,825,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ACN. Mpwm Advisory Solutions LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $34,000. Inlight Wealth Management LLC acquired a new stake in shares of Accenture in the first quarter worth approximately $32,000. Finally, Navigoe LLC acquired a new stake in shares of Accenture in the fourth quarter worth approximately $37,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of Accenture stock opened at $249.11 on Tuesday. The business's fifty day simple moving average is $282.57 and its 200-day simple moving average is $309.73. Accenture PLC has a 52 week low of $236.67 and a 52 week high of $398.35. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $156.03 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the company earned $3.13 EPS. Accenture's revenue was up 7.7% on a year-over-year basis. Equities analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.4%. Accenture's dividend payout ratio is presently 47.13%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ACN shares. HSBC started coverage on Accenture in a research note on Monday, July 28th. They issued a "reduce" rating and a $240.00 price target on the stock. Argus set a $370.00 price objective on Accenture in a research note on Tuesday, June 24th. Barclays lowered their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research note on Monday, June 23rd. Evercore ISI assumed coverage on Accenture in a research note on Thursday, July 17th. They set an "outperform" rating and a $330.00 price objective on the stock. Finally, UBS Group reissued a "buy" rating and set a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $360.21.

Insider Buying and Selling

In related news, insider Angela Beatty sold 203 shares of the 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 transaction, the insider owned 5,249 shares of the company's stock, valued at approximately $1,482,002.66. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.45, for a total value of $635,794.95. Following the transaction, the chief executive officer directly owned 8,109 shares in the company, 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. In the last 90 days, insiders have sold 2,954 shares of company stock valued at $834,280. Corporate insiders own 0.02% of the company's stock.

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.

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