Accenture plc (NYSE:ACN) Stock Holdings Lifted by Parcion Private Wealth LLC

Parcion Private Wealth LLC boosted its holdings in Accenture plc (NYSE:ACN) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,783 shares of the information technology services provider’s stock after acquiring an additional 700 shares during the period. Parcion Private Wealth LLC’s holdings in Accenture were worth $4,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACN. McKinley Carter Wealth Services Inc. raised its position in shares of Accenture by 7.4% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock worth $10,248,000 after purchasing an additional 2,008 shares during the period. TrinityPoint Wealth LLC raised its position in shares of Accenture by 3.6% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after purchasing an additional 125 shares during the period. Buckingham Capital Management Inc. raised its position in shares of Accenture by 3.4% during the 4th quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock worth $9,671,000 after purchasing an additional 900 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in shares of Accenture during the 4th quarter worth approximately $4,594,000. Finally, New Mexico Educational Retirement Board raised its position in shares of Accenture by 11.9% during the 1st quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock worth $12,393,000 after purchasing an additional 3,900 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Trading Down 0.3 %

ACN traded down $1.09 during trading on Friday, hitting $339.84. The stock had a trading volume of 1,613,563 shares, compared to its average volume of 2,781,811. The firm has a market cap of $212.98 billion, a PE ratio of 31.12, a P/E/G ratio of 3.81 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a 50 day simple moving average of $323.63 and a 200-day simple moving average of $324.57.

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

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were issued a $1.29 dividend. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.52%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction dated 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 sale, the chief executive officer now owns 11,819 shares in the company, valued at $3,652,661.95. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock worth $6,912,635 in the last quarter. 0.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ACN has been the topic of several analyst reports. Morgan Stanley cut Accenture from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $382.00 to $300.00 in a research report on Wednesday, June 26th. Wedbush decreased their price objective on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Barclays decreased their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Piper Sandler decreased their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Finally, UBS Group raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Friday, July 19th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $353.41.

About Accenture

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.