Parcion Private Wealth LLC Increases Stock Holdings in Accenture PLC (NYSE:ACN)

Parcion Private Wealth LLC grew its position in Accenture PLC (NYSE:ACN - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,375 shares of the information technology services provider's stock after acquiring an additional 923 shares during the quarter. Parcion Private Wealth LLC's holdings in Accenture were worth $6,046,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ACN. Mpwm Advisory Solutions LLC acquired a new position in Accenture during the fourth quarter worth about $30,000. Park Square Financial Group LLC acquired a new position in shares of Accenture during the 4th quarter worth approximately $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Accenture in the first quarter valued at approximately $32,000. Capital A Wealth Management LLC purchased a new stake in Accenture in the 4th quarter valued at $34,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Accenture in the 4th quarter worth $35,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Up 1.2%

Accenture stock traded up $3.37 during midday trading on Thursday, reaching $283.04. The company's stock had a trading volume of 2,150,415 shares, compared to its average volume of 2,922,399. The business has a 50-day simple moving average of $307.35 and a 200-day simple moving average of $325.69. The company has a market cap of $177.27 billion, a P/E ratio of 22.53, a P/E/G ratio of 2.59 and a beta of 1.29. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. 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 (NYSE:ACN - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating 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 company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the prior year, the firm posted $3.13 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. On average, research analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's dividend payout ratio (DPR) is 47.13%.

Insider Transactions at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction 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 in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 203 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the sale, the insider directly owned 5,249 shares of the company's stock, valued at $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,454 shares of company stock valued at $1,646,780 over the last ninety days. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACN has been the subject of several recent analyst reports. Barclays cut their price objective on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday, June 23rd. Piper Sandler decreased their price objective on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Mizuho set a $348.00 target price on Accenture and gave the stock an "outperform" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. lifted their target price on Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Argus set a $370.00 price target on Accenture in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $365.43.

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.