Addison Advisors LLC Purchases 68 Shares of Accenture plc (NYSE:ACN)

Addison Advisors LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,269 shares of the information technology services provider’s stock after purchasing an additional 68 shares during the quarter. Addison Advisors LLC’s holdings in Accenture were worth $992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Annapolis Financial Services LLC boosted its position in shares of Accenture by 507.7% in the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in Accenture in the 4th quarter valued at $29,000. Atwood & Palmer Inc. grew its position in shares of Accenture by 214.8% during the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 58 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in Accenture during the second quarter valued at $26,000. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Accenture during the fourth quarter worth about $35,000. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Accenture stock traded down $2.26 during trading hours on Friday, reaching $338.67. The stock had a trading volume of 252,574 shares, compared to its average volume of 2,773,699. The stock has a market cap of $212.24 billion, a PE ratio of 31.23, a PEG ratio of 3.81 and a beta of 1.24. The company has a fifty day simple moving average of $322.91 and a 200-day simple moving average of $324.78. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

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

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were given a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Thursday, July 11th. Accenture’s payout ratio is currently 47.25%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ACN shares. The Goldman Sachs Group initiated coverage on Accenture in a report on Monday, June 24th. They set a “neutral” rating and a $335.00 price objective for the company. Piper Sandler Companies dropped their price objective on shares of Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. BMO Capital Markets lowered their price target on Accenture from $375.00 to $350.00 and set a “market perform” rating on the stock in a research report on Friday, June 21st. Wedbush cut their price objective on 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 dropped their target price on Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research report on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $352.33.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 3,776 shares of the business’s stock in a transaction dated 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 owns 11,819 shares in the company, valued at $3,652,661.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $309.22, for a total value of $927,660.00. Following the sale, the chief financial officer now directly owns 40,070 shares of the company’s stock, valued at $12,390,445.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,166,972.80. Following the sale, 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 ninety days, insiders sold 21,421 shares of company stock worth $6,912,635. 0.07% of the stock is currently owned by corporate insiders.

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.