TrueWealth Advisors LLC Invests $282,000 in Accenture plc (NYSE:ACN)

TrueWealth Advisors LLC bought a new position in Accenture plc (NYSE:ACN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 904 shares of the information technology services provider's stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Davidson Trust Co. increased its stake in shares of Accenture by 7.4% during the fourth quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider's stock valued at $812,000 after buying an additional 158 shares during the period. Capital Research Global Investors grew its stake 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 purchasing an additional 1,770,024 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Accenture by 28.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,159 shares of the information technology services provider's stock valued at $90,425,000 after buying an additional 56,829 shares in the last quarter. Alteri Wealth LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $321,000. Finally, Sycomore Asset Management lifted its position in Accenture by 93.1% during the fourth quarter. Sycomore Asset Management now owns 57,242 shares of the information technology services provider's stock valued at $20,367,000 after acquiring an additional 27,596 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

NYSE ACN traded up $2.11 on Friday, hitting $317.49. The company had a trading volume of 2,308,334 shares, compared to its average volume of 2,966,288. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company's fifty day moving average price is $303.07 and its 200-day moving average price is $337.50. The company has a market capitalization of $198.85 billion, a PE ratio of 26.64, a PEG ratio of 3.23 and a beta of 1.33. Accenture plc has a 12-month low of $275.01 and a 12-month high of $398.35.

Accenture (NYSE:ACN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same quarter last year, the firm posted $2.77 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.86%. Accenture's dividend payout ratio (DPR) is currently 48.89%.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company's stock, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the stock in a transaction dated 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 now owns 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock valued at $2,507,366 over the last 90 days. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Guggenheim decreased their price objective on Accenture from $400.00 to $395.00 and set a "buy" rating for the company in a report on Friday, March 21st. Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird raised shares of Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 price objective for the company in a research report on Monday, March 17th. Stifel Nicolaus cut their price target on shares of Accenture from $390.00 to $380.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered their price objective on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating for the company in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $382.14.

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.