Transform Wealth LLC lowered its holdings in Accenture plc (NYSE:ACN – Get Rating) by 0.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,050 shares of the information technology services provider’s stock after selling 429 shares during the period. Accenture comprises 1.9% of Transform Wealth LLC’s portfolio, making the stock its 10th largest position. Transform Wealth LLC’s holdings in Accenture were worth $12,786,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Accenture in the 1st quarter worth approximately $26,000. Ulland Investment Advisors LLC bought a new stake in shares of Accenture in the 1st quarter worth approximately $29,000. Citizens National Bank Trust Department bought a new stake in shares of Accenture in the 4th quarter worth approximately $31,000. Landmark Wealth Management LLC acquired a new stake in Accenture in the 1st quarter valued at approximately $32,000. Finally, Delos Wealth Advisors LLC acquired a new stake in Accenture in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on ACN. Barclays lowered their target price on Accenture from $455.00 to $370.00 and set an “overweight” rating on the stock in a research report on Friday, June 24th. Jefferies Financial Group reduced their price objective on Accenture from $342.00 to $310.00 and set a “hold” rating for the company in a research note on Wednesday, September 14th. Susquehanna Bancshares decreased their target price on Accenture from $460.00 to $360.00 in a research report on Friday. Royal Bank of Canada decreased their target price on Accenture from $357.00 to $335.00 in a research report on Friday. Finally, Bank of America decreased their target price on Accenture from $443.00 to $374.00 and set a “buy” rating for the company in a research report on Friday, June 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average target price of $343.80.
Insider Transactions at Accenture
Accenture Trading Down 1.7 %
ACN traded down $4.42 on Friday, hitting $257.90. 57,211 shares of the stock traded hands, compared to its average volume of 2,035,834. Accenture plc has a 52 week low of $261.77 and a 52 week high of $417.37. The firm has a market capitalization of $163.13 billion, a PE ratio of 25.20, a P/E/G ratio of 2.24 and a beta of 1.22. The business has a fifty day moving average price of $294.97 and a two-hundred day moving average price of $299.75.
Accenture (NYSE:ACN – Get Rating) last released its quarterly earnings data on Thursday, September 22nd. The information technology services provider reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.03. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.41 billion. Accenture had a return on equity of 31.50% and a net margin of 11.13%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 earnings per share. On average, equities research analysts forecast that Accenture plc will post 10.69 EPS for the current fiscal year.
Accenture Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Thursday, October 13th will be issued a $1.12 dividend. This is an increase from Accenture’s previous quarterly dividend of $0.97. This represents a $4.48 annualized dividend and a dividend yield of 1.74%. Accenture’s payout ratio is presently 37.63%.
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management, intelligent automation comprises robotic process automation, natural language processing, and virtual agents, and liquid application management services, as well as program, project, and service management services; strategy consulting services; critical data elements, data management and governance, data platform and architecture, product-based organization and skills, business adoption, and value realization services; engineering, and research and development digitization; smart connected product design and development; product platform engineering and modernization; product as-a-service enablement; products related to production and operations; autonomous robotics systems; the digital transformation of capital projects; and digital industrial workforce solutions.
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