Accenture PLC (NYSE:ACN) Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC increased its holdings in Accenture PLC (NYSE:ACN) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,891 shares of the information technology services provider’s stock after purchasing an additional 41 shares during the period. Daymark Wealth Partners LLC’s holdings in Accenture were worth $1,838,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Accenture during the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Accenture in the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new position in Accenture during the fourth quarter worth approximately $31,000. Promus Capital LLC acquired a new position in shares of Accenture in the 4th quarter valued at $34,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Accenture during the 4th quarter valued at $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Performance

NYSE:ACN opened at $294.71 on Thursday. The firm has a 50-day moving average of $307.51 and a two-hundred day moving average of $332.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. The stock has a market cap of $184.59 billion, a P/E ratio of 23.46, a PEG ratio of 2.95 and a beta of 1.33. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The firm had revenue of $17.73 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the prior year, the business posted $3.13 earnings per share. Accenture’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a $1.48 dividend. The ex-dividend date is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.01%. Accenture’s dividend payout ratio (DPR) is presently 47.13%.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now directly owns 17,237 shares in the company, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,516 shares of company stock valued at $2,507,366 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays cut their target price on Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank Of Canada decreased their target price on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Stifel Nicolaus dropped their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Accenture from $340.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Piper Sandler dropped their price objective on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.75.

Accenture Company 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.