Destiny Wealth Partners LLC Takes $342,000 Position in Accenture PLC $ACN

Key Points

• Destiny Wealth Partners LLC has acquired a new position in Accenture PLC worth approximately $342,000 by purchasing 1,144 shares in the second quarter of 2023.
• Insider transactions include Angela Beatty selling 203 shares and CEO Julie Spellman Sweet selling 2,251 shares, representing significant reductions in their respective positions.
• Accenture recently announced an increase in its quarterly dividend to $1.63 per share, which reflects a positive change from the previous dividend of $1.48.

Destiny Wealth Partners LLC bought a new stake in shares of Accenture PLC (NYSE:ACN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,144 shares of the information technology services provider's stock, valued at approximately $342,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACN. Park Square Financial Group LLC acquired a new position in Accenture during the fourth quarter valued at $31,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in Accenture during the first quarter valued at $31,000. Inlight Wealth Management LLC acquired a new position in Accenture during the first quarter valued at $32,000. WPG Advisers LLC acquired a new position in Accenture during the first quarter valued at $42,000. Finally, Atwood & Palmer Inc. lifted its position in Accenture by 407.4% during the first quarter. Atwood & Palmer Inc. now owns 137 shares of the information technology services provider's stock valued at $43,000 after purchasing an additional 110 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider owned 5,249 shares in the company, valued at approximately $1,482,002.66. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer directly owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,954 shares of company stock worth $834,280. Insiders own 0.02% of the company's stock.

Accenture Stock Down 2.9%

ACN opened at $232.20 on Friday. Accenture PLC has a twelve month low of $229.40 and a twelve month high of $398.35. 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 $254.28 and a 200 day moving average price of $286.89. The company has a market cap of $145.43 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.06 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The information technology services provider reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.05. The firm had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $17.34 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.66 EPS. Accenture has set its FY 2026 guidance at 13.190-13.570 EPS. Q1 2026 guidance at EPS. Sell-side analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, October 10th. This is a positive change from Accenture's previous quarterly dividend of $1.48. Accenture's payout ratio is currently 47.13%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of Accenture from $372.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, September 16th. Hsbc Global Res upgraded shares of Accenture to a "moderate sell" rating in a research report on Monday, July 28th. Argus set a $370.00 price objective on shares of Accenture in a research report on Tuesday, June 24th. Stifel Nicolaus decreased their price objective on shares of Accenture from $355.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. Finally, UBS Group decreased their price objective on shares of Accenture from $363.00 to $315.00 and set a "buy" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $321.83.

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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