Graybill Wealth Management LTD. Makes New Investment in Accenture PLC (NYSE:ACN)

Graybill Wealth Management LTD. acquired a new stake in Accenture PLC (NYSE:ACN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,973 shares of the information technology services provider's stock, valued at approximately $928,000.

Several other large investors have also made changes to their positions in the business. Apollon Wealth Management LLC increased its holdings in shares of Accenture by 7.3% in the first quarter. Apollon Wealth Management LLC now owns 31,015 shares of the information technology services provider's stock valued at $9,678,000 after purchasing an additional 2,106 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in shares of Accenture by 8.6% during the 1st quarter. Catalyst Financial Partners LLC now owns 2,888 shares of the information technology services provider's stock worth $901,000 after buying an additional 228 shares during the last quarter. Slow Capital Inc. raised its position in Accenture by 76.8% in the first quarter. Slow Capital Inc. now owns 16,019 shares of the information technology services provider's stock valued at $4,999,000 after purchasing an additional 6,961 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Accenture by 302.4% in the 1st quarter. Edgestream Partners L.P. now owns 11,654 shares of the information technology services provider's stock worth $3,637,000 after acquiring an additional 8,758 shares during the last quarter. Finally, Leelyn Smith LLC lifted its holdings in Accenture by 2.3% during the 1st quarter. Leelyn Smith LLC now owns 13,285 shares of the information technology services provider's stock worth $4,146,000 after buying an additional 298 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACN. Royal Bank Of Canada reduced their price target 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 restated a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Morgan Stanley decreased their target price on Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. UBS Group reiterated a "buy" rating and issued a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research note on Thursday, May 22nd. Finally, Piper Sandler dropped their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $370.71.

Insider Buying and Selling

In related news, COO John F. Walsh sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer owned 15,882 shares in the company, valued at $5,161,650. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Down 2.5%

Shares of Accenture stock opened at $281.01 on Monday. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $176.00 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The company has a fifty day moving average price of $309.00 and a 200 day moving average price of $326.89.

Accenture (NYSE:ACN - Get Free Report) last issued 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 firm had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company earned $3.13 earnings per share. Equities research analysts forecast that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.11%. Accenture's dividend payout ratio 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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