Austin Private Wealth LLC Purchases 390 Shares of Accenture plc (NYSE:ACN)

Austin Private Wealth LLC increased its position in shares of Accenture plc (NYSE:ACN) by 36.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,471 shares of the information technology services provider’s stock after acquiring an additional 390 shares during the quarter. Austin Private Wealth LLC’s holdings in Accenture were worth $446,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. bought a new position in shares of Accenture during the 4th quarter worth approximately $27,000. Annapolis Financial Services LLC grew its position in Accenture by 507.7% during the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in Accenture during the 4th quarter worth approximately $29,000. Atwood & Palmer Inc. grew its position in Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. purchased a new stake in Accenture during the 4th quarter worth approximately $35,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group raised shares of Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Friday, July 19th. Wedbush dropped their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. Guggenheim reissued a “buy” rating and set a $395.00 target price on shares of Accenture in a research report on Friday, May 24th. Stifel Nicolaus dropped their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $351.82.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the 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 completion of the transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Kathleen R. Mcclure sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $315.00, for a total value of $472,500.00. Following the completion of the transaction, the chief financial officer now owns 38,570 shares of the company’s stock, valued at $12,149,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The disclosure for this sale can be found here. Insiders sold a total of 21,421 shares of company stock valued at $6,912,635 over the last 90 days. 0.07% of the stock is owned by company insiders.

Accenture Stock Performance

Shares of NYSE ACN traded down $0.05 during mid-day trading on Friday, reaching $315.83. The company’s stock had a trading volume of 1,851,305 shares, compared to its average volume of 2,906,728. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock has a 50-day moving average of $307.84 and a two-hundred day moving average of $329.29. The stock has a market capitalization of $197.93 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $16.55 billion. During the same period in the prior year, the company posted $3.19 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio is currently 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.