Sax Wealth Advisors LLC Purchases New Stake in Accenture PLC $ACN

Key Points

• Sax Wealth Advisors LLC has taken a new position in Accenture PLC during the 1st quarter, purchasing 3,254 shares worth approximately $1,015,000.
• During the same quarter, multiple institutional investors, including Allstate Corp and Monetary Management Group Inc., increased their stake in Accenture, contributing to institutional ownership of 75.14%.
• Accenture reported a profit of $3.49 per share for its last quarter, exceeding analysts' expectations, and announced a quarterly dividend of $1.48 per share, reflecting a 2.3% yield.

Sax Wealth Advisors LLC purchased a new stake in Accenture PLC (NYSE:ACN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,254 shares of the information technology services provider's stock, valued at approximately $1,015,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Brighton Jones LLC increased its position in shares of Accenture by 36.2% during the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock worth $6,486,000 after buying an additional 4,905 shares during the period. Renaissance Technologies LLC bought a new position in shares of Accenture in the fourth quarter valued at $317,000. Integrated Wealth Concepts LLC lifted its stake in shares of Accenture by 37.6% in the fourth quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the information technology services provider's stock valued at $5,233,000 after buying an additional 4,065 shares in the last quarter. Capital Analysts LLC lifted its stake in shares of Accenture by 3.2% in the fourth quarter. Capital Analysts LLC now owns 12,995 shares of the information technology services provider's stock valued at $4,571,000 after buying an additional 402 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Accenture by 3.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 26,115 shares of the information technology services provider's stock valued at $9,187,000 after buying an additional 822 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 203 shares of Accenture stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $282.34, for a total transaction of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares in the company, valued at $1,482,002.66. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,251 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $282.45, for a total transaction of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares of the company's stock, valued at approximately $2,290,387.05. The trade was a 21.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,954 shares of company stock worth $834,280 over the last three months. 0.02% of the stock is owned by insiders.

Accenture Price Performance

NYSE:ACN traded down $1.05 during mid-day trading on Thursday, hitting $256.07. 2,979,448 shares of the stock traded hands, compared to its average volume of 3,540,866. The business's 50-day moving average price is $274.40 and its 200 day moving average price is $304.39. The company has a market cap of $160.38 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.32 and a beta of 1.29. Accenture PLC has a 12-month low of $236.67 and a 12-month 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 issued its quarterly earnings data 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. The company had revenue of $17.73 billion during the quarter, compared to analysts' expectations of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.13 earnings per share. Accenture has set its Q4 2025 guidance at EPS. FY 2025 guidance at 12.770-12.890 EPS. On average, analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 10th were given a dividend of $1.48 per share. The ex-dividend date was Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.3%. Accenture's payout ratio is presently 47.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Accenture from $334.00 to $302.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Guggenheim lowered their target price on shares of Accenture from $360.00 to $335.00 and set a "buy" rating for the company in a report on Monday, June 23rd. UBS Group reiterated a "buy" rating and issued a $395.00 target price (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Argus set a $370.00 price objective on shares of Accenture in a report on Tuesday, June 24th. Finally, Benchmark restated a "mixed" rating on shares of Accenture in a report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Accenture presently has a consensus rating of "Moderate Buy" and an average target price of $358.08.

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.