Parr Mcknight Wealth Management Group LLC Makes New $5.61 Million Investment in Accenture plc (NYSE:ACN)

Parr Mcknight Wealth Management Group LLC purchased a new position in Accenture plc (NYSE:ACN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,948 shares of the information technology services provider's stock, valued at approximately $5,610,000.

A number of other hedge funds also recently modified their holdings of the stock. Visionary Wealth Advisors boosted its holdings in shares of Accenture by 3.5% during the fourth 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 increased its position in shares of Accenture by 3.6% during 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 in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider's stock worth $182,000 after purchasing an additional 28 shares during the last quarter. FPC Investment Advisory Inc. boosted its stake 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 worth $28,000 after acquiring an additional 28 shares during the last quarter. Finally, New England Professional Planning Group Inc. boosted 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 acquiring an additional 29 shares during the last quarter. Institutional investors own 75.14% of the company's stock.

Insiders Place Their Bets

In other Accenture news, 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 transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now owns 9,965 shares in the company, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction 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 now owns 15,882 shares of the company's stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 in the last 90 days. Corporate insiders own 0.02% of the company's stock.

Accenture Price Performance

Shares of ACN opened at $316.22 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $198.06 billion, a PE ratio of 26.53, a P/E/G ratio of 3.23 and a beta of 1.35. The firm has a 50-day simple moving average of $302.36 and a two-hundred day simple moving average of $340.47. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.77 earnings per share. As a group, analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Thursday, April 10th. Accenture's dividend payout ratio (DPR) is currently 48.89%.

Analyst Ratings Changes

Several analysts have commented on the stock. Mizuho decreased their price target on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 19th. Royal Bank of Canada cut their price target on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. 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 report on Monday, March 17th. BMO Capital Markets upped their target price on shares of Accenture to $355.00 and gave the stock a "hold" rating in a research note on Wednesday, March 26th. Finally, Wall Street Zen cut shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $382.14.

About Accenture

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.

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