Wealthspire Advisors LLC Has $24.25 Million Stock Position in Accenture PLC $ACN

Wealthspire Advisors LLC grew its stake in shares of Accenture PLC (NYSE:ACN) by 30.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 90,396 shares of the information technology services provider’s stock after acquiring an additional 20,846 shares during the quarter. Wealthspire Advisors LLC’s holdings in Accenture were worth $24,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new position in Accenture during the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new position in Accenture during the fourth quarter worth about $27,000. McMillan Office Inc. bought a new position in Accenture during the fourth quarter worth about $27,000. Triumph Capital Management bought a new position in Accenture during the third quarter worth about $26,000. Finally, Private Wealth Management Group LLC boosted its holdings in Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after buying an additional 53 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of a number of recent analyst reports. Guggenheim reduced their target price on Accenture from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird reduced their target price on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Mizuho reduced their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on Accenture from $210.00 to $199.00 and set a “hold” rating on the stock in a report on Tuesday, June 2nd. Finally, Royal Bank Of Canada cut their price objective on Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.89.

Accenture Trading Up 1.4%

NYSE:ACN opened at $169.95 on Friday. Accenture PLC has a fifty-two week low of $155.82 and a fifty-two week high of $317.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $113.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. The business’s 50-day simple moving average is $181.79 and its 200-day simple moving average is $221.83.

Accenture (NYSE:ACN) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter in the previous year, the business posted $2.82 EPS. Accenture’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.