SRS Capital Advisors Inc. Increases Holdings in Accenture plc (NYSE:ACN)

SRS Capital Advisors Inc. boosted its position in shares of Accenture plc (NYSE:ACN) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,496 shares of the information technology services provider’s stock after purchasing an additional 223 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Accenture were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. McKinley Carter Wealth Services Inc. grew its stake in Accenture by 7.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock valued at $10,248,000 after purchasing an additional 2,008 shares during the last quarter. TrinityPoint Wealth LLC grew its position in shares of Accenture by 3.6% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after buying an additional 125 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in Accenture during the fourth quarter valued at approximately $4,594,000. New Mexico Educational Retirement Board boosted its stake in Accenture by 11.9% in the first quarter. New Mexico Educational Retirement Board now owns 36,750 shares of the information technology services provider’s stock valued at $12,393,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Platform Technology Partners grew its holdings in Accenture by 7.0% in the fourth quarter. Platform Technology Partners now owns 1,996 shares of the information technology services provider’s stock worth $733,000 after purchasing an additional 131 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Piper Sandler lowered their price target on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, June 17th. Mizuho cut their price objective on shares of Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Bank of America dropped their target price on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Robert W. Baird decreased their price target on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a report on Thursday, May 16th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $353.41.

Accenture Trading Down 0.3 %

Shares of ACN stock opened at $339.84 on Friday. The company has a market capitalization of $212.98 billion, a P/E ratio of 31.12, a P/E/G ratio of 3.81 and a beta of 1.24. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The business’s 50 day moving average is $323.63 and its two-hundred day moving average is $324.30.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion during the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 EPS. On average, research 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 was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.52%. The ex-dividend date was Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 8,145 shares of the firm’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 transaction, the general counsel now owns 22,849 shares in the company, valued at $7,564,161.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, General Counsel Joel Unruch sold 8,145 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $331.05, for a total value of $2,696,402.25. Following the transaction, the general counsel now directly owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Julie Spellman Sweet sold 3,776 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $309.05, for a total transaction of $1,166,972.80. Following the sale, the chief executive officer now directly owns 11,819 shares of the company’s stock, valued at approximately $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.

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.