Geneos Wealth Management Inc. Purchases 670 Shares of Accenture plc (NYSE:ACN)

Geneos Wealth Management Inc. increased its position in shares of Accenture plc (NYSE:ACN) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,014 shares of the information technology services provider’s stock after buying an additional 670 shares during the period. Geneos Wealth Management Inc.’s holdings in Accenture were worth $3,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Accenture in the fourth quarter valued at about $27,000. Annapolis Financial Services LLC increased its position 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 during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Accenture during the fourth quarter worth approximately $29,000. Atwood & Palmer Inc. boosted its position in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 58 shares during the period. Finally, Grayhawk Investment Strategies Inc. bought a new position in Accenture during the fourth quarter worth $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho decreased their price target on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Friday, July 19th. Piper Sandler reduced their price objective on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Stifel Nicolaus reduced their target price on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $352.33.

Accenture Stock Up 0.4 %

ACN stock traded up $1.37 during midday trading on Friday, reaching $331.94. The company’s stock had a trading volume of 156,014 shares, compared to its average volume of 2,832,761. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a market cap of $208.02 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23. The business’s 50-day simple moving average is $314.54 and its 200-day simple moving average is $326.76.

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

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is 47.25%.

Insider Buying and Selling

In other Accenture news, CFO Kathleen R. Mcclure sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $315.00, for a total value 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 $12,149,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the stock in a transaction dated Friday, July 12th. The stock was 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 in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 1,500 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 38,570 shares in the company, valued at $12,149,550. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,421 shares of company stock valued at $6,912,635. 0.07% of the stock is owned by company insiders.

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.