Wealth Alliance Advisory Group LLC Makes New Investment in Accenture plc (NYSE:ACN)

Wealth Alliance Advisory Group LLC purchased a new position in shares of Accenture plc (NYSE:ACN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,763 shares of the information technology services provider's stock, valued at approximately $862,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACN. FPC Investment Advisory Inc. boosted its holdings in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture during the 4th quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Accenture during the 4th quarter valued at approximately $30,000. POM Investment Strategies LLC grew its position in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 34 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new position in Accenture in the 4th quarter valued at approximately $31,000. Institutional investors own 75.14% of the company's stock.

Accenture Stock Performance

Shares of ACN stock traded down $1.26 during trading hours on Thursday, reaching $315.14. The company had a trading volume of 3,785,329 shares, compared to its average volume of 2,969,043. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The business has a fifty day moving average price of $303.02 and a 200-day moving average price of $337.76. Accenture plc has a one year low of $275.01 and a one year high of $398.35. The firm has a market cap of $197.38 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.77 EPS. Sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Thursday, April 10th. Accenture's payout ratio is 48.89%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACN shares. Mizuho reduced their price objective on shares of Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 19th. Baird R W raised shares of Accenture from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. BMO Capital Markets upped their price target on Accenture to $355.00 and gave the stock a "hold" rating in a report on Wednesday, March 26th. Piper Sandler cut their price target on shares of Accenture from $364.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Guggenheim lowered their target price on Accenture from $400.00 to $395.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $382.14.

Insider Activity

In related news, insider Angela Beatty sold 169 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the firm'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 in the company, valued at $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 in the last ninety days. 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.