Boomfish Wealth Group LLC Buys 202 Shares of Accenture plc (NYSE:ACN)

Boomfish Wealth Group LLC grew its stake in Accenture plc (NYSE:ACN) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,991 shares of the information technology services provider’s stock after purchasing an additional 202 shares during the period. Boomfish Wealth Group LLC’s holdings in Accenture were worth $1,557,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ACN. FPC Investment Advisory Inc. raised its holdings in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Accenture in the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Accenture in the fourth quarter worth approximately $30,000. Park Square Financial Group LLC purchased a new stake in shares of Accenture in the fourth quarter worth approximately $31,000. Finally, Promus Capital LLC purchased a new stake in shares of Accenture in the fourth quarter worth approximately $34,000. 75.14% of the stock is owned by institutional investors.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares in the company, valued at $1,512,111.60. The trade was a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the sale, the general counsel now owns 17,237 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $314.12 on Tuesday. The stock has a 50-day moving average of $306.16 and a two-hundred day moving average of $335.06. Accenture plc has a one year low of $275.01 and a one year high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $196.74 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.23 and a beta of 1.33.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.77 EPS. As a group, research analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were paid a $1.48 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.88%. Accenture’s dividend payout ratio is presently 48.89%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Accenture from $372.00 to $340.00 and set an “equal weight” rating on the stock in a report on Thursday, June 12th. BMO Capital Markets raised their price objective on Accenture to $355.00 and gave the stock a “hold” rating in a report on Wednesday, March 26th. Mizuho reduced their price objective on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Royal Bank of Canada reduced their price objective on Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Finally, Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $380.00.

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.