Accenture PLC $ACN Position Lessened by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lessened its holdings in Accenture PLC (NYSE:ACN) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,551 shares of the information technology services provider’s stock after selling 5,471 shares during the period. Accenture accounts for approximately 3.2% of Icon Wealth Advisors LLC’s portfolio, making the stock its 6th largest holding. Icon Wealth Advisors LLC’s holdings in Accenture were worth $47,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Jaffetilchin Investment Partners LLC raised its position in shares of Accenture by 4.2% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 878 shares of the information technology services provider’s stock worth $236,000 after buying an additional 35 shares in the last quarter. Clayton Financial Group LLC raised its position in shares of Accenture by 13.1% in the fourth quarter. Clayton Financial Group LLC now owns 329 shares of the information technology services provider’s stock worth $88,000 after buying an additional 38 shares in the last quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in shares of Accenture by 0.9% in the third quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 4,416 shares of the information technology services provider’s stock worth $1,089,000 after buying an additional 41 shares in the last quarter. Peak Asset Management LLC raised its position in shares of Accenture by 0.8% in the fourth quarter. Peak Asset Management LLC now owns 5,447 shares of the information technology services provider’s stock worth $1,461,000 after buying an additional 43 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its position in shares of Accenture by 1.2% in the second quarter. SkyView Investment Advisors LLC now owns 3,751 shares of the information technology services provider’s stock worth $1,108,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $177.14, for a total transaction of $863,026.08. Following the transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating on shares of Accenture in a research report on Tuesday, March 17th. Robert W. Baird reduced their target price on Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. BMO Capital Markets reduced their target price on Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday, March 20th. Truist Financial cut Accenture from a “buy” rating to a “hold” rating and reduced their target price for the company from $260.00 to $210.00 in a research note on Monday, June 1st. Finally, The Goldman Sachs Group reduced their target price on Accenture from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.89.

Accenture Stock Up 1.4%

ACN opened at $169.95 on Friday. The stock has a market cap of $113.09 billion, a PE ratio of 13.92, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a 52 week low of $155.82 and a 52 week high of $317.30. The business’s fifty day simple moving average is $181.79 and its 200 day simple moving average is $221.83.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The firm had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same period last year, the firm earned $2.82 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Accenture PLC will post 13.84 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is 53.40%.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.