GC Wealth Management RIA LLC Has $1.10 Million Position in Accenture PLC $ACN

Key Points

• GC Wealth Management RIA LLC cut its Accenture stake by 61.7%, selling 6,618 shares and leaving 4,105 shares valued at about $1.10 million, while overall institutional ownership stands around 75.1% and several other funds increased positions.
• Accenture beat quarterly expectations with EPS of $2.93 vs. $2.84 and revenue of $18.04B vs. $17.80B (revenue up 7.8% YoY), and declared a quarterly dividend of $1.63 (annualized $6.52, ~3.6% yield; ex-dividend Apr 9, pay May 15).
• CEO Julie Spellman Sweet sold 6,057 shares—reducing her holding by about 28%—and analysts maintain a consensus Moderate Buy on ACN with a $274.50 target while the stock trades with a market cap near $120B and a P/E around 14.8.

GC Wealth Management RIA LLC cut its stake in Accenture PLC (NYSE:ACN - Free Report) by 61.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,105 shares of the information technology services provider's stock after selling 6,618 shares during the period. GC Wealth Management RIA LLC's holdings in Accenture were worth $1,101,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock valued at $6,486,000 after buying an additional 4,905 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Accenture by 46.9% in the second quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider's stock valued at $618,000 after acquiring an additional 660 shares during the last quarter. United Bank raised its position in Accenture by 49.8% during the second quarter. United Bank now owns 3,639 shares of the information technology services provider's stock valued at $1,088,000 after purchasing an additional 1,209 shares in the last quarter. Bank of Nova Scotia lifted its stake in Accenture by 23.0% during the second quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider's stock worth $247,000 after purchasing an additional 155 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Accenture by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider's stock valued at $528,000 after purchasing an additional 72 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Trading Up 1.4%

ACN opened at $180.26 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a fifty-two week low of $173.84 and a fifty-two week high of $325.71. The company's 50 day moving average price is $197.17 and its two-hundred day moving average price is $236.29. The firm has a market capitalization of $119.95 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.68 and a beta of 1.24.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion during the quarter, compared to the consensus estimate of $17.80 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts predict that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 9th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 9th. Accenture's payout ratio is 53.40%.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 6,057 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the sale, the chief executive officer owned 15,255 shares of the company's stock, valued at approximately $3,679,963.65. This represents a 28.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.02% of the company's stock.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered their price target on Accenture from $295.00 to $253.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Wells Fargo & Company raised their price objective on Accenture from $251.00 to $275.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. Truist Financial lowered their target price on Accenture from $317.00 to $260.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. UBS Group reissued a "buy" rating on shares of Accenture in a report on Tuesday, March 17th. Finally, Rothschild & Co Redburn lifted their price target on shares of Accenture from $205.00 to $210.00 and gave the company a "neutral" rating in a report on Monday, January 5th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.50.

Accenture Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

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