Executive Wealth Management LLC Acquires 3,035 Shares of Accenture plc (NYSE:ACN)

Executive Wealth Management LLC increased its holdings in Accenture plc (NYSE:ACN) by 14.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,226 shares of the information technology services provider’s stock after buying an additional 3,035 shares during the period. Accenture comprises approximately 1.3% of Executive Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Executive Wealth Management LLC’s holdings in Accenture were worth $7,350,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Unique Wealth Strategies LLC purchased a new position in shares of Accenture in the 2nd quarter worth approximately $26,000. Annapolis Financial Services LLC boosted its stake in Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Accenture in the second quarter worth $28,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Accenture during the fourth quarter worth $29,000. Finally, Atwood & Palmer Inc. boosted its position in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACN. UBS Group raised Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Friday, July 19th. Bank of America decreased their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Mizuho dropped their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Accenture from $330.00 to $376.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Guggenheim reiterated a “buy” rating and set a $395.00 price objective on shares of Accenture in a research note on Friday, May 24th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $354.68.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the completion of the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at $3,652,661.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 1,500 shares of Accenture stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the sale, the chief financial officer now owns 38,570 shares in the company, valued at approximately $12,149,550. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock worth $6,912,635 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Accenture Trading Down 0.1 %

Shares of ACN stock opened at $349.90 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The stock has a market cap of $219.28 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.60 and a beta of 1.24. The stock has a 50 day moving average of $327.07 and a 200 day moving average of $324.00.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The firm had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Thursday, July 11th. Accenture’s payout ratio is currently 47.25%.

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.