Platform Wealth Management LLC Buys Shares of 33,880 Accenture PLC $ACN

Platform Wealth Management LLC bought a new stake in Accenture PLC (NYSE:ACNFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 33,880 shares of the information technology services provider’s stock, valued at approximately $9,090,000. Accenture makes up 2.4% of Platform Wealth Management LLC’s portfolio, making the stock its 14th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Board of the Pension Protection Fund bought a new stake in Accenture in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of Accenture during the 4th quarter worth approximately $27,000. Triumph Capital Management bought a new stake in shares of Accenture during the 3rd quarter worth approximately $26,000. Private Wealth Management Group LLC raised its stake in shares of Accenture by 96.4% during the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 53 shares in the last quarter. Finally, Steph & Co. raised its stake in shares of Accenture by 107.5% during the 4th quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Down 4.3%

ACN opened at $178.14 on Thursday. Accenture PLC has a 1-year low of $155.82 and a 1-year high of $321.77. The stock’s fifty day simple moving average is $184.86 and its 200 day simple moving average is $225.13. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $118.54 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08.

Accenture (NYSE:ACNGet Free Report) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. During the same period in the prior year, the firm posted $2.82 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that Accenture PLC will post 13.88 earnings per share for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio is currently 53.40%.

Insider Buying and Selling

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACN. The Goldman Sachs Group dropped their price objective on Accenture from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial cut Accenture from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $260.00 to $210.00 in a research note on Monday. JPMorgan Chase & Co. increased their price target on Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Guggenheim dropped their price target on Accenture from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Finally, Robert W. Baird dropped their price target on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Sixteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.58.

View Our Latest Analysis on Accenture

Accenture Profile

(Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

See Also

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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