Palumbo Wealth Management LLC Acquires 2,374 Shares of Accenture PLC (NYSE:ACN)

Palumbo Wealth Management LLC increased its position in shares of Accenture PLC (NYSE:ACN - Free Report) by 29.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,449 shares of the information technology services provider's stock after buying an additional 2,374 shares during the quarter. Accenture accounts for about 1.1% of Palumbo Wealth Management LLC's portfolio, making the stock its 24th biggest holding. Palumbo Wealth Management LLC's holdings in Accenture were worth $3,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Visionary Wealth Advisors raised its stake in shares of Accenture by 3.5% during the 4th quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock worth $274,000 after purchasing an additional 26 shares during the period. Vivaldi Capital Management LP boosted its stake in Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after acquiring an additional 27 shares during the last quarter. FPC Investment Advisory Inc. grew its position in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock valued at $28,000 after acquiring an additional 28 shares during the period. New England Professional Planning Group Inc. increased its stake in shares of Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider's stock worth $230,000 after purchasing an additional 29 shares during the last quarter. Finally, Nemes Rush Group LLC lifted its stake in Accenture by 7.5% in the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock valued at $147,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company's stock.

Accenture Stock Up 1.9%

Shares of NYSE ACN traded up $5.66 during mid-day trading on Tuesday, hitting $300.66. 4,940,464 shares of the stock traded hands, compared to its average volume of 2,942,337. The stock has a fifty day moving average price of $307.33 and a 200-day moving average price of $332.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. The company has a market cap of $188.31 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.94 and a beta of 1.33. Accenture PLC has a 52 week low of $273.19 and a 52 week high of $398.35.

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

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.97%. Accenture's dividend payout ratio is currently 47.13%.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 169 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the transaction, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now owns 15,882 shares of the company's stock, valued at $5,161,650. This represents a 13.60% 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 valued at $2,507,366 in the last quarter. 0.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ACN has been the topic of several research reports. Piper Sandler lowered their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada lowered their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Barclays reduced 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. Robert W. Baird upgraded shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price target on the stock in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $370.75.

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.