Vivid Wealth Management LLC Acquires New Shares in Accenture PLC (NYSE:ACN)

Vivid Wealth Management LLC bought a new stake in shares of Accenture PLC (NYSE:ACN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,018 shares of the information technology services provider's stock, valued at approximately $2,190,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Accenture by 36.2% in the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider's stock worth $6,486,000 after acquiring an additional 4,905 shares during the last quarter. Congress Asset Management Co. boosted its holdings in Accenture by 1.3% in the 4th quarter. Congress Asset Management Co. now owns 68,296 shares of the information technology services provider's stock valued at $24,026,000 after purchasing an additional 886 shares during the period. Principal Securities Inc. grew its position in Accenture by 24.0% in the 4th quarter. Principal Securities Inc. now owns 16,300 shares of the information technology services provider's stock worth $5,734,000 after purchasing an additional 3,160 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Accenture by 16.2% during the 4th quarter. Allworth Financial LP now owns 13,733 shares of the information technology services provider's stock worth $4,932,000 after purchasing an additional 1,910 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Accenture during the fourth quarter valued at about $189,000. Institutional investors and hedge funds own 75.14% of the company's stock.

Insider Activity at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 15,882 shares of the company's stock, valued at approximately $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company's stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 over the last 90 days. Insiders own 0.02% of the company's stock.

Accenture Price Performance

NYSE ACN traded down $5.92 on Wednesday, hitting $306.11. 4,590,591 shares of the company were exchanged, compared to its average volume of 2,950,926. Accenture PLC has a 1-year low of $275.01 and a 1-year high of $398.35. The firm has a 50 day moving average of $306.40 and a two-hundred day moving average of $334.90. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. The company has a market cap of $191.72 billion, a P/E ratio of 25.28, a P/E/G ratio of 3.15 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.43% and a return on equity of 26.49%. Accenture's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.77 earnings per share. On average, equities analysts predict that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.93%. Accenture's payout ratio is currently 48.89%.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Accenture from $372.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 12th. BMO Capital Markets boosted their price objective on Accenture to $355.00 and gave the company a "hold" rating in a research report on Wednesday, March 26th. Wall Street Zen lowered Accenture from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, 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 report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $380.00.

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.