PUREfi Wealth LLC Has $705,000 Stake in Accenture PLC (NYSE:ACN)

PUREfi Wealth LLC trimmed its stake in shares of Accenture PLC (NYSE:ACN) by 13.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,261 shares of the information technology services provider’s stock after selling 344 shares during the period. PUREfi Wealth LLC’s holdings in Accenture were worth $705,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ACN. Norges Bank acquired a new position in shares of Accenture during the fourth quarter worth approximately $2,351,683,000. GAMMA Investing LLC lifted its holdings in Accenture by 30,256.8% in the first quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after buying an additional 3,410,248 shares during the period. Wellington Management Group LLP boosted its stake in Accenture by 22.8% in the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after acquiring an additional 2,260,740 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Accenture during the 4th quarter worth $666,495,000. Finally, Capital Research Global Investors raised its position in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after acquiring an additional 1,770,024 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of ACN opened at $312.03 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $195.43 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 3.17 and a beta of 1.33. The firm’s fifty day simple moving average is $306.40 and its two-hundred day simple moving average is $334.90. Accenture PLC has a 12 month low of $275.01 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a net margin of 11.43% and a return on equity of 26.49%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.77 EPS. As a group, analysts predict that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.90%. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Insider Transactions at Accenture

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela Beatty sold 169 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at $1,512,111.60. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock valued at $2,507,366 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ACN. Barclays dropped their target price on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. UBS Group reiterated a “buy” rating and set a $395.00 target price (up previously from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. BMO Capital Markets upped their target price on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Royal Bank Of Canada dropped their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, Stifel Nicolaus decreased their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $380.00.

About Accenture

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.