Evexia Wealth LLC Reduces Holdings in Accenture plc (NYSE:ACN)

Evexia Wealth LLC trimmed its position in shares of Accenture plc (NYSE:ACN) by 0.2% in the 1st quarter, Holdings Channel reports. The firm owned 32,001 shares of the information technology services provider’s stock after selling 52 shares during the period. Accenture accounts for approximately 3.5% of Evexia Wealth LLC’s portfolio, making the stock its 12th largest position. Evexia Wealth LLC’s holdings in Accenture were worth $9,598,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ACN. Davidson Trust Co. grew its holdings in shares of Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after purchasing an additional 158 shares during the period. Capital Research Global Investors boosted its holdings in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after acquiring an additional 1,770,024 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Accenture by 28.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,159 shares of the information technology services provider’s stock valued at $90,425,000 after acquiring an additional 56,829 shares during the period. Alteri Wealth LLC acquired a new stake in Accenture in the 4th quarter valued at about $321,000. Finally, Sycomore Asset Management raised its position in Accenture by 93.1% in the 4th quarter. Sycomore Asset Management now owns 57,242 shares of the information technology services provider’s stock valued at $20,367,000 after purchasing an additional 27,596 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Trading Up 0.7%

NYSE:ACN opened at $317.49 on Friday. The stock’s 50 day moving average price is $303.15 and its 200 day moving average price is $337.25. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The company has a market capitalization of $198.85 billion, a PE ratio of 26.64, a P/E/G ratio of 3.23 and a beta of 1.33. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $16.64 billion. During the same period last year, the business posted $2.77 EPS. The company’s revenue was up 5.7% on a year-over-year basis. On average, research analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.86%. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

Insider Buying and Selling at Accenture

In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the sale, the insider now directly owns 5,364 shares in the company, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,516 shares of company stock worth $2,507,366. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACN. Piper Sandler cut their target price on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Mizuho cut their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. Morgan Stanley cut their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday, March 17th. BMO Capital Markets raised their target price on Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Finally, Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company 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.