Accenture plc (NYSE:ACN) Shares Bought by BNC Wealth Management LLC

BNC Wealth Management LLC lifted its position in shares of Accenture plc (NYSE:ACN - Free Report) by 635.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,101 shares of the information technology services provider's stock after acquiring an additional 14,775 shares during the quarter. Accenture accounts for approximately 1.9% of BNC Wealth Management LLC's portfolio, making the stock its 15th largest holding. BNC Wealth Management LLC's holdings in Accenture were worth $5,336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FPC Investment Advisory Inc. increased its stake in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after acquiring an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Accenture during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC acquired a new position in Accenture during the fourth quarter worth about $30,000. Park Square Financial Group LLC acquired a new position in Accenture during the fourth quarter worth about $31,000. Finally, Promus Capital LLC acquired a new position in Accenture during the fourth quarter worth about $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the transaction, the chief operating officer now owns 15,882 shares of the company's stock, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela Beatty sold 169 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares in the company, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock valued at $2,507,366 over the last quarter. Company insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird upgraded shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a research report on Monday, March 17th. Piper Sandler lowered their target price on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their target price on shares of Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Mizuho lowered their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. Finally, Barclays lowered their price target on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. 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 MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $382.15.

Accenture Trading Down 2.1%

Shares of ACN traded down $6.76 on Friday, hitting $311.37. 3,102,635 shares of the stock traded hands, compared to its average volume of 2,958,031. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $195.02 billion, a P/E ratio of 26.12, a P/E/G ratio of 3.23 and a beta of 1.33. The stock's 50 day moving average is $305.50 and its two-hundred day moving average is $335.58. Accenture plc has a 1 year low of $275.01 and a 1 year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.01. The business had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 earnings per share. As a group, sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Thursday, April 10th. Accenture's dividend payout ratio is currently 48.89%.

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.