RBA Wealth Management LLC Takes Position in Accenture plc (NYSE:ACN)

RBA Wealth Management LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,976 shares of the information technology services provider’s stock, valued at approximately $1,032,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC increased its stake in shares of Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Accenture in the 4th quarter worth $27,000. Annapolis Financial Services LLC increased its stake in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture in the 4th quarter worth $29,000. Finally, Atwood & Palmer Inc. increased its stake in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

NYSE ACN traded up $1.92 during trading on Thursday, hitting $305.75. The stock had a trading volume of 1,751,215 shares, compared to its average volume of 4,312,141. The stock has a market capitalization of $191.61 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 3.39 and a beta of 1.23. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The stock has a 50 day simple moving average of $299.45 and a 200 day simple moving average of $335.28.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to analysts’ expectations of $16.55 billion. Accenture had a return on equity of 27.48% and a net margin of 10.79%. The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. On average, sell-side analysts predict that Accenture plc will post 11.95 EPS for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s dividend payout ratio (DPR) is presently 47.25%.

Insider Transactions at Accenture

In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $316.12, for a total transaction of $1,369,747.96. Following the transaction, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACN shares. Robert W. Baird cut their price target on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research note on Thursday, May 16th. The Goldman Sachs Group started coverage on Accenture in a research note on Monday, June 24th. They issued a “neutral” rating and a $335.00 price target for the company. Citigroup cut their price target on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Redburn Atlantic increased their price target on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Piper Sandler cut their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, June 17th. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.74.

Accenture 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.