Accenture PLC (NYSE:ACN) Stock Holdings Increased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc raised its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,151 shares of the information technology services provider's stock after acquiring an additional 1,625 shares during the quarter. Marks Group Wealth Management Inc's holdings in Accenture were worth $7,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new position in Accenture during the 4th quarter worth approximately $30,000. Park Square Financial Group LLC bought a new position in Accenture during the fourth quarter worth $31,000. Capital A Wealth Management LLC acquired a new position in Accenture in the fourth quarter worth $34,000. Mountain Hill Investment Partners Corp. bought a new stake in Accenture during the fourth quarter valued at $35,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Accenture in the 1st quarter worth about $32,000. Institutional investors own 75.14% of the company's stock.

Insider Buying and Selling

In other news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the transaction, the chief operating officer directly owned 15,882 shares of the company's stock, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.02% of the company's stock.

Accenture Price Performance

Shares of NYSE ACN traded down $7.35 during midday trading on Friday, reaching $281.01. The company's stock had a trading volume of 5,075,765 shares, compared to its average volume of 2,920,596. The company 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. Accenture PLC has a one year low of $273.19 and a one year 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 company has a 50 day moving average price of $309.00 and a 200 day moving average price of $327.12.

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

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.11%. Accenture's payout ratio is presently 47.13%.

Wall Street Analyst Weigh In

ACN has been the topic of several research reports. Royal Bank Of Canada dropped their price objective on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Morgan Stanley dropped their price target on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price objective on Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. UBS Group restated a "buy" rating and issued a $395.00 target price (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Finally, Benchmark reiterated a "mixed" rating on shares of Accenture in a research report on Friday, June 20th. Seven 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.com, Accenture has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Accenture 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.