Retirement Planning Co of New England Inc. Purchases New Position in Accenture PLC (NYSE:ACN)

Retirement Planning Co of New England Inc. purchased a new position in shares of Accenture PLC (NYSE:ACN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,660 shares of the information technology services provider's stock, valued at approximately $518,000.

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

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of Accenture stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $57,315.02. Following the transaction, the insider owned 5,249 shares in the company, valued at $1,482,002.66. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mauro Macchi sold 500 shares of Accenture stock in a transaction on Friday, July 11th. The shares were sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the transaction, the chief executive officer owned 2,283 shares in the company, valued at $644,582.22. The trade was a 17.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,454 shares of company stock valued at $1,646,780 in the last ninety days. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ACN. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $349.00 to $353.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Mizuho set a $348.00 price target on Accenture and gave the company an "outperform" rating in a report on Tuesday, June 24th. Evercore ISI initiated coverage on Accenture in a research note on Thursday. They issued an "outperform" rating and a $330.00 price target on the stock. UBS Group reiterated a "buy" rating and issued a $395.00 price objective (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Finally, Barclays decreased their target price on shares of Accenture from $390.00 to $360.00 and set an "overweight" rating on the stock in a research report on Monday, June 23rd. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Accenture has an average rating of "Moderate Buy" and an average price target of $365.43.

Accenture Trading Up 1.1%

Shares of Accenture stock opened at $282.72 on Friday. Accenture PLC has a 1 year low of $273.19 and a 1 year high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business has a 50 day moving average price of $306.83 and a 200 day moving average price of $325.21. The company has a market capitalization of $177.07 billion, a P/E ratio of 22.51, a P/E/G ratio of 2.62 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the firm posted $3.13 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 annualized dividend and a dividend yield of 2.09%. Accenture's payout ratio is currently 47.13%.

Accenture Company 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.

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