Congress Wealth Management LLC DE Has $30.63 Million Stock Position in Accenture plc (NYSE:ACN)

Congress Wealth Management LLC DE raised its position in shares of Accenture plc (NYSE:ACN) by 0.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,355 shares of the information technology services provider’s stock after buying an additional 218 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Accenture were worth $30,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McKinley Carter Wealth Services Inc. lifted its holdings in shares of Accenture by 7.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after purchasing an additional 2,008 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in shares of Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after purchasing an additional 125 shares during the period. Buckingham Capital Management Inc. boosted its holdings in shares of Accenture by 3.4% during the fourth 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. Ameriprise Financial Inc. grew its position in Accenture by 2.3% during the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock valued at $1,315,832,000 after purchasing an additional 96,414 shares in the last quarter. Finally, Redwood Investments LLC lifted its position in Accenture by 8.3% in the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after buying an additional 1,542 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the transaction, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now directly owns 30,702 shares in the company, valued at approximately $9,705,516.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,083 shares of company stock worth $6,302,285. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Down 0.3 %

NYSE ACN traded down $0.98 during midday trading on Monday, hitting $302.43. The company had a trading volume of 2,411,094 shares, compared to its average volume of 2,914,076. The firm has a fifty day simple moving average of $300.17 and a two-hundred day simple moving average of $336.05. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock has a market cap of $189.53 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $16.55 billion. During the same quarter in the prior year, the firm earned $3.19 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Accenture plc will post 11.95 earnings per share for the current 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 issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Analysts Set New Price Targets

ACN has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and issued a $395.00 price target on shares of Accenture in a research note on Friday, May 24th. Susquehanna cut their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, June 21st. Mizuho lowered their price target on Accenture from $398.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Piper Sandler cut their price objective 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, Jefferies Financial Group decreased 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. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $352.74.

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.