HB Wealth Management LLC Has $41.63 Million Stock Position in Accenture PLC (NYSE:ACN)

HB Wealth Management LLC increased its stake in Accenture PLC (NYSE:ACN) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,414 shares of the information technology services provider’s stock after acquiring an additional 8,583 shares during the quarter. HB Wealth Management LLC’s holdings in Accenture were worth $41,631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Visionary Wealth Advisors lifted its stake in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after acquiring an additional 26 shares during the period. Vivaldi Capital Management LP raised its position in shares of Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after acquiring an additional 27 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of Accenture by 7.5% in the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock worth $147,000 after acquiring an additional 29 shares in the last quarter. Tradition Wealth Management LLC grew its stake in Accenture by 0.3% during the fourth quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider’s stock worth $3,863,000 after purchasing an additional 30 shares during the period. Finally, Sentinus LLC grew its stake in Accenture by 4.2% during the fourth quarter. Sentinus LLC now owns 763 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 31 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Accenture news, CEO Julie Spellman Sweet sold 2,251 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $282.45, for a total value of $635,794.95. Following the completion of the sale, the chief executive officer owned 8,109 shares in the company, valued at approximately $2,290,387.05. This trade represents a 21.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John F. Walsh sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer owned 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,454 shares of company stock worth $1,646,780. Corporate insiders own 0.02% of the company’s stock.

Accenture Price Performance

ACN stock opened at $283.10 on Friday. The company has a market capitalization of $177.31 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.46. Accenture PLC has a 52-week low of $273.19 and a 52-week high of $398.35. The business has a 50-day simple moving average of $302.60 and a two-hundred day simple moving average of $322.37.

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

Accenture Dividend Announcement

The company 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 $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 2.09%. Accenture’s dividend payout ratio (DPR) is 47.13%.

Analyst Ratings Changes

Several equities research analysts recently commented on ACN shares. Benchmark reaffirmed a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. Mizuho set a $348.00 target price on Accenture and gave the stock an “outperform” rating in a research note on Tuesday, June 24th. Guggenheim decreased their target price on Accenture from $360.00 to $335.00 and set a “buy” rating for the company in a research note on Monday, June 23rd. BMO Capital Markets decreased their target price on Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a research note on Monday, June 23rd. Finally, Morgan Stanley decreased their target price on Accenture from $340.00 to $325.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 24th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.43.

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.