Park Edge Advisors LLC Has $273,000 Holdings in Accenture plc (NYSE:ACN)

Park Edge Advisors LLC raised its position in shares of Accenture plc (NYSE:ACN) by 44.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 900 shares of the information technology services provider’s stock after acquiring an additional 275 shares during the period. Park Edge Advisors LLC’s holdings in Accenture were worth $273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. increased its holdings in Accenture by 8.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 357 shares of the information technology services provider’s stock worth $125,000 after purchasing an additional 27 shares in the last quarter. Searle & CO. increased its stake in Accenture by 3.6% during the 4th quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 28 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in shares of Accenture by 2.1% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after buying an additional 28 shares in the last quarter. IronBridge Private Wealth LLC increased its position in shares of Accenture by 2.3% during the fourth quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock worth $433,000 after acquiring an additional 28 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Accenture by 0.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 7,003 shares of the information technology services provider’s stock worth $2,457,000 after purchasing an additional 30 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Up 1.1 %

Shares of NYSE ACN traded up $3.60 during midday trading on Tuesday, hitting $340.38. The stock had a trading volume of 2,154,057 shares, compared to its average volume of 2,830,246. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company has a market capitalization of $213.31 billion, a PE ratio of 31.17, a P/E/G ratio of 3.66 and a beta of 1.23. The stock has a 50 day simple moving average of $316.50 and a 200-day simple moving average of $325.73.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 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 business had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. During the same period last year, the company earned $3.19 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts expect that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.52%. Accenture’s dividend payout ratio (DPR) is currently 47.25%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Guggenheim restated a “buy” rating and issued a $395.00 price objective on shares of Accenture in a research note on Friday, May 24th. The Goldman Sachs Group assumed coverage on Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective on the stock. Bank of America cut their price target on shares of Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Accenture from a “buy” rating to a “hold” rating and lowered their target price for the company from $409.00 to $295.00 in a research note on Wednesday, May 15th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $352.33.

Insider Transactions at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at $12,390,445.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kathleen R. Mcclure sold 3,000 shares of Accenture stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total value of $927,660.00. Following the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $315.00, for a total transaction of $472,500.00. Following the completion of the sale, the chief financial officer now directly owns 38,570 shares in the company, valued at approximately $12,149,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,421 shares of company stock valued at $6,912,635. Corporate insiders own 0.07% of the company’s stock.

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.