Axxcess Wealth Management LLC Sells 3,563 Shares of Accenture PLC (NYSE:ACN)

Axxcess Wealth Management LLC trimmed its position in Accenture PLC (NYSE:ACN - Free Report) by 17.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,257 shares of the information technology services provider's stock after selling 3,563 shares during the quarter. Axxcess Wealth Management LLC's holdings in Accenture were worth $5,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture during the 4th quarter valued at about $30,000. Park Square Financial Group LLC acquired a new stake in Accenture during the 4th quarter valued at approximately $31,000. Inlight Wealth Management LLC acquired a new stake in Accenture during the 1st quarter valued at approximately $32,000. Capital A Wealth Management LLC acquired a new stake in Accenture during the 4th quarter valued at approximately $34,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Accenture during the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction 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 completion of the sale, the insider owned 5,364 shares of the company's stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the sale, the chief operating officer directly 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 disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 in the last ninety days. Company insiders own 0.02% of the company's stock.

Accenture Stock Down 3.1%

Shares of Accenture stock traded down $9.36 during midday trading on Thursday, hitting $288.04. The company's stock had a trading volume of 5,194,527 shares, compared to its average volume of 2,913,826. The firm has a market capitalization of $180.41 billion, a P/E ratio of 22.93, a PEG ratio of 2.84 and a beta of 1.29. The stock has a 50-day simple moving average of $309.75 and a 200-day simple moving average of $328.40. 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 PLC has a 1-year low of $273.19 and a 1-year high of $398.35.

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

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend on an annualized basis and a yield of 2.06%. Accenture's payout ratio is 47.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BMO Capital Markets lowered their price objective on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a research note on Monday, June 23rd. Argus set a $370.00 target price on Accenture in a research report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their target price on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Piper Sandler reduced their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, UBS Group restated a "buy" rating and set a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Accenture currently has an average rating of "Moderate Buy" and an average target price of $370.71.

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.