Accenture PLC (NYSE:ACN) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lowered its position in Accenture PLC (NYSE:ACN - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mpwm Advisory Solutions LLC purchased a new position in Accenture in the 4th quarter worth about $30,000. Park Square Financial Group LLC purchased a new position in Accenture in the 4th quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Accenture in the 4th quarter worth about $34,000. Mountain Hill Investment Partners Corp. purchased a new position in Accenture in the 4th quarter worth about $35,000. Finally, Inlight Wealth Management LLC bought a new position in Accenture during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Buying and Selling at Accenture

In other news, COO John F. Walsh sold 2,500 shares of Accenture 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 completion of the transaction, the chief operating officer directly owned 15,882 shares of the company's stock, valued at $5,161,650. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ACN has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Royal Bank Of Canada dropped their target price on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. BMO Capital Markets dropped their target price on shares of Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a report on Monday, June 23rd. Guggenheim dropped their target price on shares of Accenture from $360.00 to $335.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. Finally, Barclays dropped their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday, June 23rd. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Accenture Stock Performance

ACN traded down $6.69 during trading on Friday, reaching $281.67. 2,806,976 shares of the company's stock were exchanged, compared to its average volume of 2,916,233. Accenture PLC has a 1 year low of $273.19 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $176.42 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29. The company's fifty day simple moving average is $309.49 and its 200-day simple moving average is $327.92.

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

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, July 10th. Accenture's dividend payout ratio (DPR) is 47.13%.

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.