Platform Wealth Management LLC Acquires Shares of 33,880 Accenture PLC $ACN

Platform Wealth Management LLC acquired a new stake in Accenture PLC (NYSE:ACN) during the fourth quarter, HoldingsChannel reports. The fund acquired 33,880 shares of the information technology services provider’s stock, valued at approximately $9,090,000. Accenture makes up approximately 2.4% of Platform Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Accenture by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,070,930 shares of the information technology services provider’s stock worth $17,726,831,000 after purchasing an additional 854,361 shares in the last quarter. State Street Corp grew its holdings in shares of Accenture by 0.4% during the 3rd quarter. State Street Corp now owns 28,135,065 shares of the information technology services provider’s stock worth $6,938,156,000 after purchasing an additional 118,460 shares in the last quarter. Capital International Investors grew its holdings in shares of Accenture by 41.1% during the 3rd quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock worth $4,223,839,000 after purchasing an additional 4,984,930 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Accenture by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 14,656,436 shares of the information technology services provider’s stock worth $3,922,212,000 after purchasing an additional 218,719 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Accenture by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,693,994 shares of the information technology services provider’s stock worth $2,869,199,000 after purchasing an additional 546,198 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Performance

NYSE:ACN opened at $178.14 on Thursday. The stock’s 50-day simple moving average is $184.86 and its 200 day simple moving average is $225.13. The firm has a market capitalization of $118.54 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a twelve month low of $155.82 and a twelve month high of $321.77.

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. The business had revenue of $18.04 billion for the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $2.82 earnings per share. On average, analysts anticipate that Accenture PLC will post 13.88 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.7%. Accenture’s dividend payout ratio (DPR) is 53.40%.

Analyst Ratings Changes

Several analysts have recently issued reports on ACN shares. Piper Sandler set a $282.00 target price on Accenture in a report on Thursday, March 5th. Morgan Stanley reduced their target price on Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. TD Cowen reduced their target price on Accenture from $282.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Stifel Nicolaus reduced their target price on Accenture from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup reduced their price objective on Accenture from $215.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday. Sixteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $266.58.

Insider Buying and Selling

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

Accenture 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.