Bartlett & CO. Wealth Management LLC Boosts Position in Accenture PLC (NYSE:ACN)

Bartlett & CO. Wealth Management LLC raised its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 301,102 shares of the information technology services provider's stock after purchasing an additional 3,103 shares during the quarter. Accenture accounts for approximately 1.4% of Bartlett & CO. Wealth Management LLC's holdings, making the stock its 19th biggest position. Bartlett & CO. Wealth Management LLC's holdings in Accenture were worth $93,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Accenture by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock worth $21,246,236,000 after purchasing an additional 392,183 shares during the period. Geode Capital Management LLC grew its stake in shares of Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after acquiring an additional 136,665 shares during the period. Capital Research Global Investors increased its holdings in Accenture by 16.8% in 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 in the last quarter. Wellington Management Group LLP lifted its holdings in Accenture by 22.8% during the fourth 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 purchasing an additional 2,260,740 shares in the last quarter. Finally, Capital International Investors increased its stake in shares of Accenture by 2.2% in the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock worth $2,994,922,000 after purchasing an additional 181,449 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACN shares. Royal Bank Of Canada lowered their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Benchmark reaffirmed a "mixed" rating on shares of Accenture in a report on Friday, June 20th. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a report on Monday, March 17th. Wall Street Zen downgraded shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Barclays reduced their target price on Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a report on Monday. 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $370.71.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now owns 9,965 shares of the company's stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela Beatty sold 169 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the sale, the insider now directly owns 5,364 shares in the company, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by company insiders.

Accenture Trading Up 0.5%

ACN opened at $296.03 on Friday. Accenture PLC has a one year low of $273.19 and a one year high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. The stock has a market cap of $185.41 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.89 and a beta of 1.33. The stock's 50 day moving average price is $307.78 and its 200-day moving average price is $332.11.

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share 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 the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $3.13 earnings per share. On average, equities analysts forecast that Accenture PLC will post 12.73 EPS for the current 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 2.00%. The ex-dividend date is Thursday, July 10th. Accenture's dividend payout ratio (DPR) is presently 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.

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