Envestnet Asset Management Inc. Buys 211,746 Shares of Accenture PLC (NYSE:ACN)

Envestnet Asset Management Inc. grew its stake in Accenture PLC (NYSE:ACN - Free Report) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,426,071 shares of the information technology services provider's stock after buying an additional 211,746 shares during the period. Envestnet Asset Management Inc. owned 0.39% of Accenture worth $757,031,000 at the end of the most recent quarter.

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

Accenture Stock Performance

ACN traded up $6.81 on Tuesday, hitting $307.35. 609,624 shares of the company's stock were exchanged, compared to its average volume of 2,892,057. The firm has a market cap of $192.50 billion, a PE ratio of 24.47, a P/E/G ratio of 2.86 and a beta of 1.29. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The stock has a fifty day moving average of $309.69 and a two-hundred day moving average of $328.80. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN - Get Free Report) last posted its earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.32 by $0.17. Accenture had a net margin of 11.61% and a return on equity of 26.55%. The firm had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter in the prior year, the firm earned $3.13 EPS. Accenture's quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.93%. Accenture's payout ratio is 47.13%.

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. Barclays dropped their price target on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research report on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Benchmark reiterated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. 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 research report on Tuesday, June 24th. Finally, Argus set a $370.00 target price on shares of Accenture in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Accenture presently has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Insider Transactions at Accenture

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 stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the sale, the chief executive officer directly owned 9,965 shares in the company, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the completion of the sale, the general counsel owned 17,237 shares of the company's stock, valued at approximately $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is owned by corporate insiders.

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.