Jaffetilchin Investment Partners LLC Grows Stake in Accenture plc (NYSE:ACN)

Jaffetilchin Investment Partners LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 21.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 712 shares of the information technology services provider’s stock after purchasing an additional 127 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Accenture were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Accenture in the 4th quarter valued at $2,061,490,000. Swedbank AB purchased a new position in shares of Accenture in the 1st quarter valued at $820,912,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Accenture by 100.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,751,531 shares of the information technology services provider’s stock valued at $614,615,000 after acquiring an additional 875,723 shares during the period. Winslow Capital Management LLC purchased a new position in shares of Accenture in the 4th quarter valued at $288,168,000. Finally, Generation Investment Management LLP purchased a new position in shares of Accenture in the 4th quarter valued at $286,220,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, 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 sale, the general counsel now directly owns 22,849 shares in the company, valued at approximately $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, General Counsel Joel Unruch sold 8,145 shares of the company’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 value of $2,696,402.25. Following the completion of the sale, the general counsel now directly owns 22,849 shares in the company, valued at $7,564,161.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction that occurred on 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 owns 11,819 shares of the company’s stock, valued at $3,652,661.95. The disclosure for this sale can be found here. In the last three months, insiders sold 21,421 shares of company stock worth $6,912,635. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ACN shares. Piper Sandler Companies dropped their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating on the stock in a research note 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 note on Friday, July 19th. Susquehanna dropped their target price on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research note on Friday, June 21st. Jefferies Financial Group dropped their target price on Accenture from $340.00 to $275.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded Accenture from a “buy” rating to a “hold” rating and dropped their target price for the stock from $409.00 to $295.00 in a research note on Wednesday, May 15th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $352.33.

Accenture Stock Performance

Shares of Accenture stock traded up $1.74 on Friday, hitting $341.95. The company’s stock had a trading volume of 2,004,144 shares, compared to its average volume of 2,810,327. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The firm has a fifty day moving average price of $319.98 and a 200-day moving average price of $325.52. The company has a market capitalization of $214.30 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 3.66 and a beta of 1.23.

Accenture (NYSE:ACN) last announced its quarterly 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 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 analysts’ expectations of $16.55 billion. During the same quarter in the prior year, the firm earned $3.19 EPS. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts forecast that Accenture plc will post 11.95 EPS for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were paid a dividend of $1.29 per share. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a yield of 1.51%. Accenture’s dividend payout ratio (DPR) is currently 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.