Accenture plc (NYSE:ACN) Shares Purchased by LVW Advisors LLC

LVW Advisors LLC boosted its stake in Accenture plc (NYSE:ACN) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,137 shares of the information technology services provider’s stock after purchasing an additional 88 shares during the period. LVW Advisors LLC’s holdings in Accenture were worth $394,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. McKinley Carter Wealth Services Inc. grew its stake in shares of Accenture by 7.4% during 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 acquiring an additional 2,008 shares in the last quarter. TrinityPoint Wealth LLC grew its stake in shares of Accenture by 3.6% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock valued at $1,279,000 after acquiring an additional 125 shares in the last quarter. Buckingham Capital Management Inc. grew its stake 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 valued at $9,671,000 after acquiring an additional 900 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of 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 acquiring an additional 96,414 shares in the last quarter. Finally, Redwood Investments LLC grew its stake in shares of Accenture by 8.3% during the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after acquiring an additional 1,542 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Up 0.1 %

Shares of NYSE:ACN opened at $303.41 on Monday. The company’s fifty day moving average is $300.17 and its two-hundred day moving average is $336.05. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market cap of $190.14 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23.

Accenture (NYSE:ACN) last posted 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 company had revenue of $16.47 billion for the quarter, compared to analysts’ expectations 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. Equities research analysts anticipate that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The firm 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 yield of 1.70%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio is presently 47.25%.

Analyst Ratings Changes

A number of equities analysts recently commented on ACN shares. Barclays decreased their price target on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Susquehanna decreased 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. Bank of America decreased their price target on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Stifel Nicolaus decreased their target price on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Twelve investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $352.74.

Insider Buying and Selling

In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the completion of the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the completion of the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,083 shares of company stock worth $6,302,285. 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.