TrueWealth Advisors LLC Invests $282,000 in Accenture plc (NYSE:ACN)

TrueWealth Advisors LLC purchased a new position in shares of Accenture plc (NYSE:ACN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 904 shares of the information technology services provider’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ACN. Brighton Jones LLC raised its stake in Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock valued at $6,486,000 after purchasing an additional 4,905 shares during the last quarter. Avitas Wealth Management LLC raised its stake in Accenture by 0.8% in the 4th quarter. Avitas Wealth Management LLC now owns 4,985 shares of the information technology services provider’s stock valued at $1,754,000 after purchasing an additional 40 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Accenture by 0.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 56,222 shares of the information technology services provider’s stock valued at $19,779,000 after purchasing an additional 313 shares during the last quarter. Stratos Wealth Advisors LLC raised its stake in Accenture by 0.7% in the 4th quarter. Stratos Wealth Advisors LLC now owns 35,575 shares of the information technology services provider’s stock valued at $12,515,000 after purchasing an additional 257 shares during the last quarter. Finally, Groesbeck Investment Management Corp NJ acquired a new position in Accenture in the 4th quarter valued at about $294,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Activity at Accenture

In other Accenture news, COO John F. Walsh sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now directly owns 15,882 shares in the company, valued at approximately $5,161,650. This trade represents a 13.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Accenture Price Performance

Shares of ACN opened at $316.41 on Thursday. The firm has a market capitalization of $198.18 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a one year low of $275.01 and a one year high of $398.35. The stock’s fifty day moving average is $303.02 and its 200-day moving average is $337.76.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same period last year, the company earned $2.77 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were paid a dividend of $1.48 per share. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.87%. Accenture’s dividend payout ratio is currently 48.89%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACN shares. Wall Street Zen downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Piper Sandler cut their target price on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Royal Bank of Canada dropped their price objective on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley dropped their price objective on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $382.14.

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.