Accenture plc (NYSE:ACN) Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in Accenture plc (NYSE:ACN) by 12.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,891 shares of the information technology services provider’s stock after buying an additional 213 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Accenture were worth $656,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ACN. Chilton Capital Management LLC boosted its stake in shares of Accenture by 180.0% in the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Accenture in the fourth quarter worth about $27,000. Annapolis Financial Services LLC boosted its stake 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 worth $27,000 after buying an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Accenture in the fourth quarter worth about $29,000. Finally, Atwood & Palmer Inc. boosted its stake in shares of Accenture by 214.8% in the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Guggenheim reiterated a “buy” rating and set a $395.00 price target on shares of Accenture in a research report on Friday, May 24th. Susquehanna lowered their price target on Accenture from $360.00 to $350.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Redburn Atlantic increased their price target on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. The Goldman Sachs Group assumed coverage on Accenture in a research report on Monday, June 24th. They set a “neutral” rating and a $335.00 price target on the stock. Finally, Mizuho lowered their price target on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. Twelve equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.74.

Accenture Stock Performance

NYSE:ACN opened at $303.41 on Monday. The stock has a 50 day moving average price of $300.17 and a 200 day moving average price of $336.05. The stock has a market cap of $203.51 billion, a PE ratio of 27.78, a P/E/G ratio of 3.38 and a beta of 1.21. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

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

Accenture Announces Dividend

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

Insider Activity

In related news, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction on Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Accenture news, CEO Jean-Marc Ollagnier sold 6,250 shares of Accenture stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the sale, the general counsel now directly owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,083 shares of company stock valued at $6,302,285. 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.