Spire Wealth Management Sells 4,673 Shares of Accenture PLC (NYSE:ACN)

Spire Wealth Management decreased its stake in shares of Accenture PLC (NYSE:ACN - Free Report) by 19.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,591 shares of the information technology services provider's stock after selling 4,673 shares during the quarter. Spire Wealth Management's holdings in Accenture were worth $6,113,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture in the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture in the 4th quarter worth $31,000. Inlight Wealth Management LLC acquired a new position in shares of Accenture during the first quarter valued at about $32,000. Finally, Promus Capital LLC purchased a new stake in shares of Accenture during the fourth quarter valued at $34,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACN has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen cut Accenture from a "buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Royal Bank Of Canada dropped their price objective on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Piper Sandler cut their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays lowered their price objective on Accenture from $390.00 to $360.00 and set an "overweight" rating for the company in a research report on Monday. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $370.71.

Insider Buying and Selling at Accenture

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares of the company's stock, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief operating officer now directly owns 15,882 shares of the company's stock, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 over the last ninety days. 0.02% of the stock is currently owned by insiders.

Accenture Trading Up 0.5%

Shares of NYSE:ACN traded up $1.43 during mid-day trading on Thursday, hitting $296.03. The stock had a trading volume of 3,631,810 shares, compared to its average volume of 2,938,888. Accenture PLC has a 12-month low of $273.19 and a 12-month high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. The company has a market cap of $185.41 billion, a PE ratio of 23.57, a P/E/G ratio of 2.89 and a beta of 1.33. The company's 50 day moving average is $307.51 and its 200-day moving average is $332.55.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 26.55% and a net margin of 11.61%. The firm had revenue of $17.73 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company posted $3.13 EPS. The business's quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 2.00%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

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.