Revolve Wealth Partners LLC Buys 51 Shares of Accenture plc (NYSE:ACN)

Revolve Wealth Partners LLC raised its holdings in shares of Accenture plc (NYSE:ACN) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 763 shares of the information technology services provider’s stock after acquiring an additional 51 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Accenture were worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. Norges Bank bought a new stake in Accenture during the 4th quarter valued at $2,061,490,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Accenture by 100.0% during 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 purchasing an additional 875,723 shares in the last quarter. Winslow Capital Management LLC purchased a new position in shares of Accenture during the 4th quarter valued at $288,168,000. Generation Investment Management LLP purchased a new position in shares of Accenture during the 4th quarter valued at $286,220,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Accenture during the 4th quarter valued at $263,421,000. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Down 0.5 %

Shares of NYSE:ACN opened at $303.10 on Friday. The company has a market cap of $203.30 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 3.43 and a beta of 1.21. The company has a 50-day moving average price of $300.69 and a 200-day moving average price of $336.65. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, June 20th. The information technology services provider reported $3.13 EPS 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 company had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $16.55 billion. During the same quarter last year, the business earned $3.19 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th will be issued a $1.29 dividend. The ex-dividend date is Thursday, July 11th. This represents a $5.16 dividend on an annualized basis and a yield of 1.70%. Accenture’s dividend payout ratio (DPR) is 47.25%.

Insider Buying and Selling at Accenture

In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $315.91, for a total value of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at $51,045,053.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares in the company, valued at $4,208,606.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ACN. BMO Capital Markets reduced their price target on shares of Accenture from $375.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, June 21st. Redburn Atlantic upped their target price on shares of Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft lowered shares of Accenture from a “buy” rating to a “hold” rating and cut their target price for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. Susquehanna cut their target price on shares of Accenture from $360.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Finally, Stifel Nicolaus cut their target price on shares of Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $352.74.

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.