Marcum Wealth LLC Acquires 72 Shares of Accenture plc (NYSE:ACN)

Marcum Wealth LLC boosted its position in Accenture plc (NYSE:ACN) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,997 shares of the information technology services provider’s stock after purchasing an additional 72 shares during the period. Marcum Wealth LLC’s holdings in Accenture were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of ACN. Advisory Alpha LLC bought a new position in shares of Accenture during the fourth quarter valued at about $267,000. Walkner Condon Financial Advisors LLC bought a new position in shares of Accenture during the fourth quarter valued at about $222,000. Private Trust Co. NA boosted its holdings in shares of Accenture by 1.3% during the fourth quarter. Private Trust Co. NA now owns 4,545 shares of the information technology services provider’s stock worth $1,595,000 after purchasing an additional 60 shares during the period. Avitas Wealth Management LLC boosted its holdings in shares of Accenture by 3.5% during the fourth quarter. Avitas Wealth Management LLC now owns 4,799 shares of the information technology services provider’s stock worth $1,684,000 after purchasing an additional 161 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Accenture by 33,484.1% during the fourth quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock worth $199,167,000 after purchasing an additional 565,882 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. TD Cowen lowered their price objective on shares of Accenture from $294.00 to $293.00 and set a “hold” rating for the company in a report on Friday, June 21st. Stifel Nicolaus lowered their price objective on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Guggenheim reiterated a “buy” rating and set a $395.00 target price on shares of Accenture in a report on Friday, May 24th. Wedbush lowered their target price on shares of Accenture from $400.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, June 12th. Finally, Robert W. Baird lowered their target price on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $351.82.

Insider Activity at Accenture

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the 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 transaction, the chief executive officer now owns 11,819 shares of the company’s stock, valued at approximately $3,652,661.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $329.82, for a total transaction of $1,649,100.00. Following the transaction, the insider now directly owns 8,989 shares of the company’s stock, valued at $2,964,751.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 3,776 shares of Accenture stock in a transaction that occurred on Friday, July 12th. The shares were 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 $3,652,661.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,421 shares of company stock valued at $6,912,635. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN traded down $9.23 during midday trading on Monday, hitting $313.92. The company had a trading volume of 3,186,532 shares, compared to its average volume of 2,926,525. The company has a market cap of $196.73 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.66 and a beta of 1.23. The company has a fifty day moving average of $305.37 and a two-hundred day moving average of $330.75. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). Accenture had a return on equity of 27.48% and a net margin of 10.79%. The firm had revenue of $16.47 billion during the quarter, compared to the consensus estimate of $16.55 billion. During the same period in the prior year, the company posted $3.19 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts expect that Accenture plc will post 11.95 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Accenture 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.