Petros Family Wealth LLC Boosts Stock Position in Accenture PLC (NYSE:ACN)

Petros Family Wealth LLC lifted its position in Accenture PLC (NYSE:ACN) by 23.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,215 shares of the information technology services provider’s stock after buying an additional 812 shares during the quarter. Accenture accounts for approximately 1.5% of Petros Family Wealth LLC’s portfolio, making the stock its 18th biggest position. Petros Family Wealth LLC’s holdings in Accenture were worth $1,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ACN. Brighton Jones LLC raised its holdings in shares of 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 buying an additional 4,905 shares during the period. Sigma Planning Corp grew its stake in Accenture by 3.4% during the 4th quarter. Sigma Planning Corp now owns 2,526 shares of the information technology services provider’s stock worth $889,000 after purchasing an additional 83 shares in the last quarter. Howard Capital Management Inc. acquired a new position in Accenture during the 4th quarter worth $1,531,000. MONECO Advisors LLC grew its stake in Accenture by 26.9% during the 4th quarter. MONECO Advisors LLC now owns 1,713 shares of the information technology services provider’s stock worth $603,000 after purchasing an additional 363 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Accenture during the 4th quarter worth $350,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays lowered their target price on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a research note on Monday. Wall Street Zen cut Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Guggenheim lowered their price objective on Accenture from $360.00 to $335.00 and set a “buy” rating for the company in a research report on Monday. Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, BMO Capital Markets lowered their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $374.00.

Insider Buying and Selling at Accenture

In other news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was 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 of the company’s stock, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now directly owns 9,965 shares of the company’s stock, 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. Insiders sold a total of 8,516 shares of company stock valued at $2,507,366 in the last ninety days. Insiders own 0.02% of the company’s stock.

Accenture Stock Up 3.4%

Accenture stock opened at $295.03 on Tuesday. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 1.46. The company has a market capitalization of $184.79 billion, a P/E ratio of 23.49, a PEG ratio of 2.85 and a beta of 1.33. The stock has a 50-day simple moving average of $307.08 and a 200-day simple moving average of $333.04.

Accenture (NYSE:ACN) last posted its earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.17. The business had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.13 EPS. Equities research analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, July 10th. Accenture’s dividend payout ratio is presently 47.13%.

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.