RBA Wealth Management LLC Buys New Shares in Accenture plc (NYSE:ACN)

RBA Wealth Management LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) during the first quarter, HoldingsChannel reports. The institutional investor purchased 2,976 shares of the information technology services provider’s stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC lifted its position in Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in Accenture during the fourth quarter valued at approximately $27,000. Annapolis Financial Services LLC lifted its position in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture during the fourth quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. lifted its position in Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the completion of the transaction, the chief executive officer now owns 161,581 shares in the company, valued at approximately $51,045,053.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of the sale, the chief executive officer now owns 161,581 shares in the company, valued at $51,045,053.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,083 shares of company stock valued at $6,302,285. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of a number of recent research reports. Redburn Atlantic boosted their target price on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Barclays reduced their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. Robert W. Baird reduced their target price on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating on the stock in a research report on Thursday, May 16th. Piper Sandler reduced their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, June 17th. Finally, Citigroup reduced their target price on shares of Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $352.74.

Accenture Stock Up 0.6 %

NYSE ACN traded up $1.92 during trading hours on Thursday, hitting $305.75. The company had a trading volume of 1,751,215 shares, compared to its average volume of 4,312,141. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The firm has a market cap of $191.61 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 3.39 and a beta of 1.23. The business has a fifty day simple moving average of $299.45 and a 200-day simple moving average of $335.28.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $16.55 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a dividend of $1.29 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.69%. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

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.