Kingsview Wealth Management LLC Acquires 28,315 Shares of Accenture PLC (NYSE:ACN)

Kingsview Wealth Management LLC increased its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 264.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,021 shares of the information technology services provider's stock after acquiring an additional 28,315 shares during the period. Kingsview Wealth Management LLC's holdings in Accenture were worth $12,176,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after acquiring an additional 1,770,024 shares in the last quarter. Alteri Wealth LLC bought a new position in Accenture during the 4th quarter valued at about $321,000. Proficio Capital Partners LLC lifted its holdings in Accenture by 47.6% during the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock valued at $861,000 after purchasing an additional 789 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Accenture by 62.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock valued at $282,000 after purchasing an additional 347 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Accenture during the 4th quarter valued at about $317,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACN. Piper Sandler cut their price target on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Guggenheim dropped their target price on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Barclays dropped their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research note on Monday, June 23rd. Mizuho set a $348.00 target price on shares of Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. Finally, Benchmark reaffirmed a "mixed" rating on shares of Accenture in a research note on Friday, June 20th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Accenture has an average rating of "Moderate Buy" and an average target price of $365.43.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 203 shares of the company's stock in a transaction that occurred on 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 transaction, the insider owned 5,249 shares in the company, valued at $1,482,002.66. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer owned 15,882 shares of the company's stock, valued at $5,161,650. This trade represents a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,454 shares of company stock worth $1,646,780 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Down 0.1%

NYSE ACN traded down $0.33 during trading on Friday, reaching $282.37. 4,207,339 shares of the stock traded hands, compared to its average volume of 2,926,240. The firm has a market cap of $176.86 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The stock's 50-day moving average price is $306.83 and its 200 day moving average price is $325.21. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35.

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

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, July 10th. Accenture's dividend payout ratio is currently 47.13%.

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.