Darden Wealth Group Inc Has $663,000 Holdings in Accenture PLC (NYSE:ACN)

Darden Wealth Group Inc cut its position in Accenture PLC (NYSE:ACN) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,124 shares of the information technology services provider’s stock after selling 104 shares during the quarter. Darden Wealth Group Inc’s holdings in Accenture were worth $663,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Accenture during the fourth quarter valued at approximately $2,351,683,000. GAMMA Investing LLC boosted its holdings in shares of Accenture by 30,256.8% in the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock worth $1,067,651,000 after purchasing an additional 3,410,248 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Accenture by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after acquiring an additional 2,260,740 shares during the period. Capital Research Global Investors raised its position in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Accenture by 10.7% in the 4th quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider’s stock worth $2,667,393,000 after buying an additional 732,769 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO John F. Walsh sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer directly owned 15,882 shares in the company, valued at approximately $5,161,650. The trade was a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela Beatty sold 203 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the sale, the insider directly owned 5,249 shares of the company’s stock, valued at approximately $1,482,002.66. This trade represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock valued at $1,646,780 in the last three months. 0.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ACN. Mizuho set a $348.00 price target on Accenture and gave the stock an “outperform” rating in a research note on Tuesday, June 24th. Piper Sandler decreased their price target on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley reduced their target price on Accenture from $340.00 to $325.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 24th. JPMorgan Chase & Co. lifted their price target on Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Finally, BMO Capital Markets dropped their target price on Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday, June 23rd. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $365.43.

Accenture Price Performance

Shares of ACN traded up $0.03 during midday trading on Friday, hitting $282.73. 343,832 shares of the company traded hands, compared to its average volume of 2,911,243. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a 50-day moving average of $306.83 and a 200-day moving average of $325.21. The firm has a market cap of $177.08 billion, a P/E ratio of 22.54, a PEG ratio of 2.62 and a beta of 1.29. Accenture PLC has a one year low of $273.19 and a one 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 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $3.13 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, July 10th. Accenture’s dividend payout ratio is presently 47.13%.

About Accenture

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.