V Wealth Advisors LLC Purchases New Shares in Accenture plc (NYSE:ACN)

Posted by Defense World Staff on Mar 31st, 2023

V Wealth Advisors LLC purchased a new stake in shares of Accenture plc (NYSE:ACN – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 852 shares of the information technology services provider’s stock, valued at approximately $227,000.

A number of other large investors have also added to or reduced their stakes in ACN. United Bank boosted its stake in Accenture by 6.3% during the 1st quarter. United Bank now owns 2,969 shares of the information technology services provider’s stock valued at $1,001,000 after acquiring an additional 176 shares during the last quarter. Weitz Investment Management Inc. boosted its stake in Accenture by 1.3% during the 1st quarter. Weitz Investment Management Inc. now owns 89,400 shares of the information technology services provider’s stock valued at $30,148,000 after acquiring an additional 1,168 shares during the last quarter. Fund Management at Engine No. 1 LLC bought a new position in Accenture during the 1st quarter valued at $1,805,000. Guardian Wealth Management Inc. lifted its position in shares of Accenture by 0.6% in the 1st quarter. Guardian Wealth Management Inc. now owns 7,292 shares of the information technology services provider’s stock worth $2,459,000 after buying an additional 41 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Accenture by 104.8% in the 1st quarter. Clearbridge Investments LLC now owns 441,451 shares of the information technology services provider’s stock worth $148,871,000 after buying an additional 225,943 shares during the last quarter. 73.97% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

NYSE ACN opened at $282.66 on Friday. The company’s 50 day simple moving average is $271.80 and its 200 day simple moving average is $273.99. Accenture plc has a 12 month low of $242.80 and a 12 month high of $345.30. The company has a market capitalization of $178.14 billion, a P/E ratio of 26.03, a PEG ratio of 2.50 and a beta of 1.25.

Accenture (NYSE:ACN – Get Rating) last released its earnings results on Thursday, March 23rd. The information technology services provider reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.20. Accenture had a net margin of 11.00% and a return on equity of 30.73%. The business had revenue of $15.81 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the previous year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts anticipate that Accenture plc will post 11.55 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Thursday, April 13th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, April 12th. Accenture’s dividend payout ratio (DPR) is currently 41.25%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACN. Royal Bank of Canada raised their price target on shares of Accenture from $335.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. Piper Jaffray Companies raised their price target on shares of Accenture from $245.00 to $250.00 and gave the stock an “underweight” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Accenture from $311.00 to $314.00 and gave the stock an “overweight” rating in a research report on Friday, March 24th. Wells Fargo & Company raised their price target on shares of Accenture from $289.00 to $294.00 and gave the stock an “equal weight” rating in a research report on Friday, March 24th. Finally, Piper Sandler cut shares of Accenture from a “neutral” rating to an “underweight” rating and set a $268.00 price objective on the stock. in a report on Monday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $314.00.

Insider Transactions at Accenture

In other news, insider James O. Etheredge sold 5,000 shares of Accenture stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $286.11, for a total value of $1,430,550.00. Following the transaction, the insider now directly owns 13,930 shares of the company’s stock, valued at $3,985,512.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider James O. Etheredge sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $286.11, for a total transaction of $1,430,550.00. Following the transaction, the insider now directly owns 13,930 shares of the company’s stock, valued at $3,985,512.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 556 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $280.53, for a total transaction of $155,974.68. Following the transaction, the general counsel now directly owns 42,991 shares in the company, valued at $12,060,265.23. The disclosure for this sale can be found here. Insiders have sold a total of 36,475 shares of company stock valued at $10,225,149 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Accenture Company Profile

(Get Rating)

Accenture Plc engages in the provision of management consulting, technology, and outsourcing services. It operates through the following geographical segments: North America, Europe and Growth Markets. The company was founded in 1989 and is headquartered in Dublin, Ireland.