Diversify Wealth Management LLC Acquires 1,708 Shares of Accenture PLC (NYSE:ACN)

Diversify Wealth Management LLC increased its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,730 shares of the information technology services provider's stock after buying an additional 1,708 shares during the period. Diversify Wealth Management LLC's holdings in Accenture were worth $4,994,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Accenture by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock valued at $21,246,236,000 after buying an additional 392,183 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Accenture by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after buying an additional 136,665 shares during the last quarter. Capital Research Global Investors raised its position in shares of Accenture by 16.8% in the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after buying an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after buying an additional 2,260,740 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Accenture by 2.2% in the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock valued at $2,994,922,000 after buying an additional 181,449 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACN. Barclays cut their price objective on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday, June 23rd. Piper Sandler cut their price objective on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Benchmark restated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Guggenheim cut their price objective on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. Finally, Royal Bank Of Canada cut their price objective on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Accenture Price Performance

Accenture stock traded down $7.35 during midday trading on Friday, hitting $281.01. The company's stock had a trading volume of 5,075,765 shares, compared to its average volume of 2,924,704. 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 stock's 50-day moving average price is $309.00 and its 200-day moving average price is $327.36. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The company has a market capitalization of $176.00 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $17.73 billion for 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 business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.13 EPS. Analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.11%. Accenture's payout ratio is 47.13%.

Insider Activity at Accenture

In related news, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the sale, the chief operating officer owned 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.02% of the company's stock.

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.