Allworth Financial LP Increases Stake in Accenture PLC (NYSE:ACN)

Allworth Financial LP grew its position in Accenture PLC (NYSE:ACN - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,209 shares of the information technology services provider's stock after acquiring an additional 4,476 shares during the quarter. Allworth Financial LP's holdings in Accenture were worth $5,306,000 at the end of the most recent reporting period.

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

Insider Transactions at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of the firm's 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 approximately $5,161,650. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.02% of the company's stock.

Accenture Stock Performance

Shares of Accenture stock opened at $281.01 on Friday. The firm has a market capitalization of $176.00 billion, a P/E ratio of 22.37, a PEG ratio of 2.71 and a beta of 1.29. 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 company has a 50 day moving average price of $309.00 and a 200 day moving average price of $327.36. Accenture PLC has a 52 week low of $273.19 and a 52 week high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.32 by $0.17. The firm 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 was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $3.13 EPS. Sell-side analysts expect that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio is presently 47.13%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank Of Canada cut their price target 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. Morgan Stanley dropped their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. 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. 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. Finally, Argus set a $370.00 target price on shares of Accenture in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Accenture presently has a consensus rating of "Moderate Buy" and a consensus price target of $370.71.

Accenture Company Profile

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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