Summit Trail Advisors LLC Purchases 2,362 Shares of Accenture PLC (NYSE:ACN)

Summit Trail Advisors LLC boosted its position in Accenture PLC (NYSE:ACN - Free Report) by 24.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,116 shares of the information technology services provider's stock after buying an additional 2,362 shares during the quarter. Summit Trail Advisors LLC's holdings in Accenture were worth $3,781,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ACN. Norges Bank acquired a new stake in Accenture during the fourth quarter valued at approximately $2,351,683,000. GAMMA Investing LLC lifted its stake in Accenture by 30,256.8% during the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider's stock worth $1,067,651,000 after purchasing an additional 3,410,248 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock worth $4,283,225,000 after purchasing an additional 2,260,740 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Accenture during the fourth quarter worth $666,495,000. Finally, Capital Research Global Investors raised its holdings in shares of Accenture by 16.8% during the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after purchasing an additional 1,770,024 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Price Performance

Shares of ACN traded down $0.62 during mid-day trading on Wednesday, hitting $302.00. The company's stock had a trading volume of 2,748,416 shares, compared to its average volume of 2,902,731. 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 firm has a 50-day moving average price of $308.79 and a 200 day moving average price of $330.60. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The stock has a market capitalization of $189.15 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.84 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 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.13 EPS. On average, research analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.96%. Accenture's dividend payout ratio is currently 47.13%.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent research reports. Argus set a $370.00 price objective on shares of Accenture in a research report on Tuesday, June 24th. Baird R W upgraded Accenture from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Royal Bank Of Canada cut their price target on Accenture from $399.00 to $392.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Piper Sandler dropped their target price on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of Accenture from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Seven research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $370.71.

Insider Activity

In other Accenture news, insider Angela Beatty sold 169 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider owned 5,364 shares in the company, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the sale, the general counsel owned 17,237 shares of the company's stock, valued at $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,516 shares of company stock valued at $2,507,366. 0.02% of the stock is currently owned by company insiders.

Accenture 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.