Jaffetilchin Investment Partners LLC Increases Stock Position in Accenture plc (NYSE:ACN)

Jaffetilchin Investment Partners LLC grew its stake in shares of Accenture plc (NYSE:ACN) by 21.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 712 shares of the information technology services provider’s stock after buying an additional 127 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Accenture were worth $216,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Unique Wealth Strategies LLC acquired a new position in shares of Accenture during the 2nd quarter valued at $26,000. Annapolis Financial Services LLC lifted its holdings in Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after buying an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the 4th quarter worth $29,000. Atwood & Palmer Inc. lifted its holdings in 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 buying an additional 58 shares in the last quarter. Finally, Grayhawk Investment Strategies Inc. acquired a new position in Accenture in the 4th quarter worth $35,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ACN shares. UBS Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a report on Friday, July 19th. Mizuho dropped their target price on shares of Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Barclays dropped their target price on shares of Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Robert W. Baird dropped their target price on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Finally, Jefferies Financial Group dropped their target price on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus target price of $352.33.

Accenture Stock Up 0.5 %

NYSE ACN traded up $1.74 on Friday, hitting $341.95. The stock had a trading volume of 2,004,144 shares, compared to its average volume of 2,810,327. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The stock has a market cap of $214.30 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 3.66 and a beta of 1.23. The company’s 50-day moving average is $319.98 and its two-hundred day moving average is $325.52.

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

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, July 11th. Accenture’s dividend payout ratio is currently 47.25%.

Insider Transactions at Accenture

In related news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Joel Unruch sold 8,145 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the completion of the sale, the general counsel now owns 22,849 shares in the company, valued at approximately $7,564,161.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the completion of the sale, the insider now owns 8,989 shares of the company’s stock, valued at approximately $2,964,751.98. The disclosure for this sale can be found here. In the last three months, insiders sold 21,421 shares of company stock valued at $6,912,635. Company insiders own 0.07% 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.