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

Axxcess Wealth Management LLC lessened its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Accenture in the 4th quarter valued at about $2,351,683,000. GAMMA Investing LLC lifted its holdings in shares of Accenture by 30,256.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock valued at $1,067,651,000 after purchasing an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Accenture by 22.8% in the 4th 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 acquiring an additional 2,260,740 shares during the period. Capital Research Global Investors lifted its position in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Accenture by 10.7% in the fourth quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider's stock valued at $2,667,393,000 after acquiring an additional 732,769 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Accenture 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 sale, the chief operating officer owned 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.02% of the stock is owned by corporate insiders.

Accenture Price Performance

Shares of NYSE ACN traded down $7.35 during mid-day trading on Friday, hitting $281.01. 5,075,765 shares of the stock were exchanged, compared to its average volume of 2,920,596. The stock's fifty day simple moving average is $309.00 and its two-hundred day simple moving average is $326.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a market cap of $176.00 billion, a P/E ratio of 22.37, a PEG ratio of 2.64 and a beta of 1.29.

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

Accenture Announces Dividend

The firm 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 $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 dividend payout ratio is presently 47.13%.

Analyst Upgrades and Downgrades

ACN has been the subject of several research reports. Morgan Stanley reduced their price objective on Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. BMO Capital Markets lowered their price target on Accenture from $355.00 to $325.00 and set a "market perform" rating for the company in a report on Monday, June 23rd. Guggenheim lowered their price objective on Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Accenture has a consensus rating of "Moderate Buy" and a consensus price target 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.