CWA Asset Management Group LLC raised its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,524 shares of the information technology services provider's stock after purchasing an additional 2,447 shares during the period. CWA Asset Management Group LLC's holdings in Accenture were worth $6,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of ACN. Kingswood Wealth Advisors LLC grew its stake in shares of Accenture by 13.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,095 shares of the information technology services provider's stock valued at $654,000 after buying an additional 248 shares during the last quarter. Accelerate Investment Advisors LLC boosted its holdings in Accenture by 14.7% during the 1st quarter. Accelerate Investment Advisors LLC now owns 727 shares of the information technology services provider's stock valued at $227,000 after acquiring an additional 93 shares during the period. Pegasus Asset Management Inc. grew its position in Accenture by 3.3% in the 1st quarter. Pegasus Asset Management Inc. now owns 19,077 shares of the information technology services provider's stock valued at $5,953,000 after acquiring an additional 602 shares during the last quarter. Wells Trecaso Financial Group LLC lifted its position in shares of Accenture by 4.6% during the first quarter. Wells Trecaso Financial Group LLC now owns 12,939 shares of the information technology services provider's stock worth $4,038,000 after purchasing an additional 565 shares during the last quarter. Finally, Colorado Capital Management Inc. boosted its stake in shares of Accenture by 8.5% during the first quarter. Colorado Capital Management Inc. now owns 730 shares of the information technology services provider's stock valued at $228,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 75.14% of the company's stock.
Accenture Stock Performance
Shares of NYSE:ACN traded down $5.92 on Wednesday, hitting $306.11. 4,590,591 shares of the company were exchanged, compared to its average volume of 2,960,338. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. The stock's 50 day moving average price is $306.40 and its 200 day moving average price is $334.90. Accenture PLC has a 1-year low of $275.01 and a 1-year high of $398.35. The firm has a market capitalization of $191.72 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.33.
Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.49% and a net margin of 11.43%. The business had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. During the same quarter in the previous year, the business earned $2.77 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current year.
Accenture Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, April 10th. Accenture's dividend payout ratio is currently 48.89%.
Insider Buying and Selling at Accenture
In related news, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the completion of the transaction, the general counsel now directly owns 17,237 shares in the company, valued at $4,857,041.86. The trade was a 17.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 169 shares of the firm's 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 now 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. In the last quarter, insiders sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on ACN shares. Barclays decreased their price objective on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. boosted their price target on Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a report on Monday. Morgan Stanley reduced their price objective on Accenture from $372.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, June 12th. Guggenheim lowered their target price on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Stifel Nicolaus cut their price target on Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Accenture has an average rating of "Moderate Buy" and a consensus target price of $380.00.
View Our Latest Report on ACN
Accenture Profile
(
Free Report)
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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