Masso Torrence Wealth Management Inc. lifted its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 832.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,838 shares of the information technology services provider's stock after acquiring an additional 12,354 shares during the quarter. Accenture comprises approximately 2.3% of Masso Torrence Wealth Management Inc.'s holdings, making the stock its 13th largest position. Masso Torrence Wealth Management Inc.'s holdings in Accenture were worth $4,318,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Accenture by 36.2% during 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 purchasing an additional 4,905 shares during the period. Legacy Capital Group California Inc. lifted its position in shares of Accenture by 7.3% in the 4th quarter. Legacy Capital Group California Inc. now owns 1,155 shares of the information technology services provider's stock worth $406,000 after acquiring an additional 79 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Accenture in the 4th quarter worth approximately $63,000. VisionPoint Advisory Group LLC bought a new stake in shares of Accenture in the 4th quarter worth approximately $74,000. Finally, Dahring Cusmano LLC bought a new stake in shares of Accenture in the 4th quarter worth approximately $283,000. Institutional investors own 75.14% of the company's stock.
Accenture Stock Performance
NYSE ACN traded up $9.66 during trading on Monday, reaching $295.03. 5,449,311 shares of the company's stock were exchanged, compared to its average volume of 2,940,172. The business has a 50 day moving average price of $306.98 and a 200-day moving average price of $333.51. The stock has a market capitalization of $184.79 billion, a P/E ratio of 23.49, a PEG ratio of 2.85 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. 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 announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 earnings per share. Sell-side analysts forecast that Accenture PLC will post 12.73 earnings per share for the current fiscal year.
Accenture Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio is presently 47.13%.
Insider Transactions at Accenture
In related news, insider Angela Beatty sold 169 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now directly owns 5,364 shares in the company, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were 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 now owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 over the last quarter. Company insiders own 0.02% of the company's stock.
Analysts Set New Price Targets
A number of analysts have commented on ACN shares. JPMorgan Chase & Co. raised 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. Barclays cut their target price on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday. Stifel Nicolaus cut their target price on Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Mizuho dropped their price target on Accenture from $428.00 to $398.00 and set an "outperform" rating for the company in a report on Wednesday, March 19th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $374.00.
Check Out Our Latest Stock Report on Accenture
Accenture Company Profile
(
Free Report)
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.
See Also
Before you consider Accenture, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Accenture wasn't on the list.
While Accenture currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
