Accenture plc (NYSE:ACN) is Icon Wealth Advisors LLC’s 2nd Largest Position

Icon Wealth Advisors LLC decreased its stake in Accenture plc (NYSE:ACN) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,204 shares of the information technology services provider’s stock after selling 1,405 shares during the quarter. Accenture makes up 6.1% of Icon Wealth Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Icon Wealth Advisors LLC’s holdings in Accenture were worth $65,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Chilton Capital Management LLC boosted its holdings in Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in shares of Accenture in the fourth quarter worth about $27,000. Annapolis Financial Services LLC grew its position in shares of Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in Accenture during the 4th quarter valued at approximately $29,000. Finally, Atwood & Palmer Inc. lifted its holdings in Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 58 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 3,776 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the transaction, the chief executive officer now directly owns 11,819 shares in the company, valued at approximately $3,652,661.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total value of $1,166,972.80. Following the completion of the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the completion of the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold 21,421 shares of company stock worth $6,912,635 in the last three months. Corporate insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN traded up $3.00 during trading hours on Tuesday, hitting $329.20. 1,985,285 shares of the company’s stock traded hands, compared to its average volume of 2,931,302. The business has a fifty day moving average price of $304.02 and a 200-day moving average price of $331.33. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a market capitalization of $206.31 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a net margin of 10.79% and a return on equity of 27.48%. The business had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period last year, the company earned $3.19 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Accenture plc will post 11.95 earnings per share for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be given a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.57%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ACN shares. Susquehanna reduced their price objective on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Wedbush decreased their price target on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. Barclays cut their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research report on Friday, July 19th. Finally, Piper Sandler cut their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $351.82.

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.