Roffman Miller Associates Inc. PA Boosts Stock Position in Accenture PLC (NYSE:ACN)

Roffman Miller Associates Inc. PA increased its holdings in shares of Accenture PLC (NYSE:ACN - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,509 shares of the information technology services provider's stock after buying an additional 1,123 shares during the quarter. Accenture accounts for about 1.4% of Roffman Miller Associates Inc. PA's holdings, making the stock its 28th biggest holding. Roffman Miller Associates Inc. PA's holdings in Accenture were worth $22,938,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Capital Research Global Investors boosted its holdings in Accenture by 16.8% in the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock valued at $4,325,526,000 after acquiring an additional 1,770,024 shares during the last quarter. Alteri Wealth LLC acquired a new position in Accenture in the fourth quarter valued at $321,000. Proficio Capital Partners LLC raised its position in shares of Accenture by 47.6% in the 4th quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider's stock worth $861,000 after acquiring an additional 789 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Accenture by 62.2% in the first quarter. Exchange Traded Concepts LLC now owns 905 shares of the information technology services provider's stock valued at $282,000 after buying an additional 347 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $317,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO John F. Walsh sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of the transaction, the chief operating officer owned 15,882 shares of the company's stock, valued at approximately $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel directly owned 17,237 shares of the company's stock, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock worth $2,507,366 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Accenture Price Performance

NYSE:ACN traded down $4.30 during midday trading on Monday, hitting $300.48. The company had a trading volume of 2,752,818 shares, compared to its average volume of 2,900,565. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock's fifty day moving average price is $309.55 and its 200-day moving average price is $329.26. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The company has a market capitalization of $188.20 billion, a PE ratio of 23.92, a P/E/G ratio of 2.86 and a beta of 1.29.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The firm had revenue of $17.73 billion for the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $3.13 earnings per share. As a group, research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently announced 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 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%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACN. Piper Sandler dropped their price objective on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets lowered their target price on Accenture from $355.00 to $325.00 and set a "market perform" rating on the stock in a research report on Monday, June 23rd. Argus set a $370.00 target price on Accenture in a report on Tuesday, June 24th. Wall Street Zen cut shares of Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Mizuho set a $348.00 price objective on shares of Accenture and gave the stock an "outperform" rating in a research report on Tuesday, June 24th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $370.71.

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.