Jessup Wealth Management Inc Purchases Shares of 1,104 Accenture plc (NYSE:ACN)

Jessup Wealth Management Inc acquired a new position in shares of Accenture plc (NYSE:ACN) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,104 shares of the information technology services provider’s stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC boosted 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 worth $25,000 after acquiring an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Accenture in the fourth quarter valued at $27,000. Ables Iannone Moore & Associates Inc. acquired a new position in Accenture in the fourth quarter valued at $29,000. Atwood & Palmer Inc. boosted its stake 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 during the last quarter. Finally, Halpern Financial Inc. purchased a new stake in Accenture in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. Piper Sandler Companies decreased 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. Guggenheim reissued a “buy” rating and set a $395.00 price objective on shares of Accenture in a research note on Friday, May 24th. Morgan Stanley lowered Accenture from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $382.00 to $300.00 in a research report on Wednesday. BMO Capital Markets dropped their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, June 21st. Finally, StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $352.74.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the transaction, the insider now directly owns 13,699 shares in the company, valued at approximately $4,208,606.78. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,083 shares of company stock valued at $6,302,285. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of ACN stock traded down $0.39 on Friday, hitting $302.80. 1,308,269 shares of the stock traded hands, compared to its average volume of 2,809,153. The company has a market capitalization of $203.10 billion, a PE ratio of 27.76, a PEG ratio of 3.40 and a beta of 1.21. The company’s fifty day moving average is $300.69 and its 200 day moving average is $336.65. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly 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 return on equity of 27.48% and a net margin of 10.79%. The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

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.