Icon Wealth Advisors LLC Cuts Stock Holdings in Accenture PLC $ACN

Icon Wealth Advisors LLC cut its holdings in Accenture PLC (NYSE:ACN) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,551 shares of the information technology services provider’s stock after selling 5,471 shares during the quarter. Accenture makes up approximately 3.2% of Icon Wealth Advisors LLC’s holdings, making the stock its 6th largest holding. Icon Wealth Advisors LLC’s holdings in Accenture were worth $47,360,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ACN. Triumph Capital Management bought a new stake in shares of Accenture in the third quarter worth about $26,000. Board of the Pension Protection Fund bought a new stake in shares of Accenture in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of Accenture in the fourth quarter worth about $27,000. McMillan Office Inc. bought a new stake in shares of Accenture in the fourth quarter worth about $27,000. Finally, Private Wealth Management Group LLC grew its stake in shares of Accenture by 96.4% in the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after purchasing an additional 53 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of the transaction, the chief executive officer directly owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen cut their target price on Accenture from $282.00 to $258.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Mizuho cut their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. Citigroup lowered their price objective on shares of Accenture from $215.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, June 1st. Morgan Stanley lowered their price objective on shares of Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Finally, Guggenheim lowered their price objective on shares of Accenture from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $259.89.

Accenture Stock Performance

Shares of ACN opened at $169.95 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. Accenture PLC has a one year low of $155.82 and a one year high of $317.30. The company has a 50-day simple moving average of $181.79 and a two-hundred day simple moving average of $221.83. The firm has a market capitalization of $113.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The business had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. During the same period last year, the business posted $2.82 earnings per share. Accenture’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Accenture PLC will post 13.84 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is presently 53.40%.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.