Topsail Wealth Management LLC Makes New $481,000 Investment in Accenture PLC (NYSE:ACN)

Topsail Wealth Management LLC bought a new stake in Accenture PLC (NYSE:ACN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,542 shares of the information technology services provider's stock, valued at approximately $481,000.

A number of other institutional investors also recently modified their holdings of the company. Visionary Wealth Advisors increased its holdings in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider's stock valued at $274,000 after purchasing an additional 26 shares in the last quarter. Vivaldi Capital Management LP increased its holdings in shares of Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider's stock valued at $292,000 after purchasing an additional 27 shares in the last quarter. Nemes Rush Group LLC increased its holdings in shares of Accenture by 7.5% in the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider's stock valued at $147,000 after purchasing an additional 29 shares in the last quarter. Tradition Wealth Management LLC increased its holdings in shares of Accenture by 0.3% in the fourth quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider's stock valued at $3,863,000 after purchasing an additional 30 shares in the last quarter. Finally, Sentinus LLC increased its holdings in shares of Accenture by 4.2% in the fourth quarter. Sentinus LLC now owns 763 shares of the information technology services provider's stock valued at $268,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 75.14% of the company's stock.

Accenture Trading Down 2.5%

Shares of NYSE ACN traded down $7.35 during midday trading on Friday, reaching $281.01. 5,075,765 shares of the stock were exchanged, compared to its average volume of 2,920,596. The company has a market capitalization of $176.00 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.64 and a beta of 1.29. Accenture PLC has a 12 month low of $273.19 and a 12 month high of $398.35. The business has a 50-day simple moving average of $309.00 and a two-hundred day simple moving average of $327.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

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

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture's payout ratio is presently 47.13%.

Analyst Ratings Changes

A number of analysts have commented on ACN shares. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price for the company in a report on Monday, March 17th. Royal Bank Of Canada lowered their target price on shares of Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Morgan Stanley lowered their target price on shares of Accenture from $340.00 to $325.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Mizuho set a $348.00 target price on shares of Accenture and gave the stock an "outperform" rating in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Accenture from $349.00 to $353.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $370.71.

Insiders Place Their Bets

In related news, COO John F. Walsh sold 2,500 shares of the company's 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 transaction, the chief operating officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.02% of the company's stock.

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.