7,018 Shares in Accenture plc (NYSE:ACN) Acquired by Vivid Wealth Management LLC

Vivid Wealth Management LLC acquired a new position in shares of Accenture plc (NYSE:ACN) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 7,018 shares of the information technology services provider’s stock, valued at approximately $2,190,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Inscription Capital LLC bought a new stake in Accenture during the 1st quarter worth approximately $2,628,000. Louisbourg Investments Inc. grew its holdings in Accenture by 24.1% during the 1st quarter. Louisbourg Investments Inc. now owns 10,985 shares of the information technology services provider’s stock worth $3,428,000 after acquiring an additional 2,130 shares during the last quarter. Grove Bank & Trust grew its holdings in Accenture by 2.2% during the 1st quarter. Grove Bank & Trust now owns 10,529 shares of the information technology services provider’s stock worth $3,285,000 after acquiring an additional 226 shares during the last quarter. Grimes & Company Inc. grew its holdings in Accenture by 1.7% during the 1st quarter. Grimes & Company Inc. now owns 66,645 shares of the information technology services provider’s stock worth $20,796,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Precedent Wealth Partners LLC grew its holdings in Accenture by 21.0% during the 1st quarter. Precedent Wealth Partners LLC now owns 5,252 shares of the information technology services provider’s stock worth $1,639,000 after acquiring an additional 912 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective on the stock in a research note on Monday, March 17th. Guggenheim reduced their price objective on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Morgan Stanley reduced their price objective on shares of Accenture from $372.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 12th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.00.

Accenture Stock Up 0.8%

Shares of NYSE ACN opened at $314.12 on Tuesday. The firm has a market cap of $196.74 billion, a PE ratio of 26.35, a P/E/G ratio of 3.23 and a beta of 1.33. Accenture plc has a 12-month low of $275.01 and a 12-month high of $398.35. The company’s fifty day simple moving average is $306.16 and its 200 day simple moving average is $335.06. 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 released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same period last year, the firm earned $2.77 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 169 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 3,563 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the transaction, the general counsel now directly owns 17,237 shares in the company, valued at $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,516 shares of company stock valued at $2,507,366. Corporate insiders own 0.02% of the company’s stock.

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.