Lee Danner & Bass Inc. Has $35.75 Million Stock Position in Accenture PLC (NYSE:ACN)

Lee Danner & Bass Inc. raised its stake in Accenture PLC (NYSE:ACN - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,558 shares of the information technology services provider's stock after acquiring an additional 1,189 shares during the quarter. Accenture makes up 2.9% of Lee Danner & Bass Inc.'s holdings, making the stock its 5th biggest position. Lee Danner & Bass Inc.'s holdings in Accenture were worth $35,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in Accenture in the fourth quarter valued at about $30,000. Park Square Financial Group LLC bought a new stake in shares of Accenture in the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC bought a new stake in shares of Accenture in the fourth quarter valued at approximately $34,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Accenture in the fourth quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Accenture in the first quarter valued at approximately $32,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction 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 owned 9,965 shares of the company's stock, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider directly owned 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. Over the last 90 days, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by corporate insiders.

Accenture Trading Down 1.4%

Shares of Accenture stock traded down $4.30 during trading on Monday, reaching $300.48. The company's stock had a trading volume of 2,752,818 shares, compared to its average volume of 2,900,565. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The company has a market cap of $188.20 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.86 and a beta of 1.29. The firm's 50-day moving average is $309.55 and its two-hundred day moving average is $329.26. 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 announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.13 EPS. On average, sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 annualized dividend and a yield of 1.97%. Accenture's payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark reissued a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research note on Monday, March 17th. Finally, Barclays reduced their price objective on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research note on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $370.71.

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.