Apollon Wealth Management LLC Boosts Stake in Accenture PLC (NYSE:ACN)

Apollon Wealth Management LLC grew its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,015 shares of the information technology services provider's stock after purchasing an additional 2,106 shares during the period. Apollon Wealth Management LLC's holdings in Accenture were worth $9,678,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on ACN. Baird R W upgraded Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Mizuho set a $348.00 price target on Accenture and gave the company an "outperform" rating in a report on Tuesday, June 24th. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank Of Canada decreased their target price on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Accenture presently has a consensus rating of "Moderate Buy" and an average price target of $370.71.

Accenture Trading Down 2.5%

Accenture stock opened at $281.01 on Monday. The company's fifty day simple moving average is $309.00 and its 200-day simple moving average is $326.89. 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 12 month low of $273.19 and a 12 month high of $398.35. The stock has a market cap of $176.00 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.64 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $17.73 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted $3.13 earnings per share. As a group, sell-side analysts forecast that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced 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 is Thursday, July 10th. Accenture's dividend payout ratio is 47.13%.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 2,500 shares of the business's stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.02% of the stock is currently owned by corporate insiders.

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.

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