Apollon Wealth Management LLC Has $9.68 Million Stock Holdings in Accenture PLC (NYSE:ACN)

Apollon Wealth Management LLC increased its holdings in Accenture PLC (NYSE:ACN) by 7.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 31,015 shares of the information technology services provider’s stock after buying an additional 2,106 shares during the quarter. Apollon Wealth Management LLC’s holdings in Accenture were worth $9,678,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its holdings in shares of Accenture by 36.2% during the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock worth $6,486,000 after buying an additional 4,905 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Accenture by 47.6% in the fourth quarter. Proficio Capital Partners LLC now owns 2,446 shares of the information technology services provider’s stock valued at $861,000 after acquiring an additional 789 shares during the last quarter. Associated Banc Corp boosted its stake in Accenture by 13.6% in the fourth quarter. Associated Banc Corp now owns 1,341 shares of the information technology services provider’s stock valued at $472,000 after acquiring an additional 161 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in Accenture by 12,533.3% in the fourth quarter. Picton Mahoney Asset Management now owns 379 shares of the information technology services provider’s stock worth $133,000 after purchasing an additional 376 shares during the period. Finally, Choate Investment Advisors raised its holdings in Accenture by 8.2% in the fourth quarter. Choate Investment Advisors now owns 13,444 shares of the information technology services provider’s stock worth $4,729,000 after purchasing an additional 1,017 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Down 2.5%

Accenture stock opened at $281.01 on Monday. The firm has a market capitalization of $176.00 billion, a PE ratio of 22.37, a P/E/G ratio of 2.64 and a beta of 1.29. The company’s 50-day moving average is $309.00 and its 200-day moving average is $326.89. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46.

Accenture (NYSE:ACN) last released its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion for the quarter, compared to analyst estimates of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 EPS. Sell-side analysts anticipate that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture’s payout ratio is 47.13%.

Analyst Ratings Changes

Several research firms have weighed in on ACN. Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price on the stock in a report on Monday, March 17th. Argus set a $370.00 price objective on shares of Accenture in a report on Tuesday, June 24th. Piper Sandler dropped their price objective on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Finally, Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.71.

Insider Activity at Accenture

In related news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction dated Tuesday, May 13th. The shares were 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 owned 15,882 shares of the company’s stock, valued at approximately $5,161,650. The trade was a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.02% of the company’s stock.

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.