Elk River Wealth Management LLC Reduces Stock Position in Accenture PLC $ACN

Elk River Wealth Management LLC lowered its stake in Accenture PLC (NYSE:ACN) by 26.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,565 shares of the information technology services provider’s stock after selling 5,164 shares during the quarter. Elk River Wealth Management LLC’s holdings in Accenture were worth $3,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC raised its position in 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 acquiring an additional 35 shares during the period. Clayton Financial Group LLC raised its position in 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 acquiring an additional 38 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. raised its position in 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 acquiring an additional 41 shares during the period. Peak Asset Management LLC raised its position in 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 acquiring an additional 43 shares during the period. Finally, SkyView Investment Advisors LLC raised its position in 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 acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ACN shares. Mizuho decreased their price target on shares of Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a research report on Monday, March 23rd. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. BMO Capital Markets decreased their price objective on shares of Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Accenture from $280.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, March 6th. Finally, Truist Financial decreased their price objective on shares of Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $274.50.

Accenture Stock Performance

ACN opened at $179.12 on Thursday. The stock has a market capitalization of $119.19 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.68 and a beta of 1.08. The company has a fifty day moving average of $188.33 and a 200 day moving average of $229.64. Accenture PLC has a fifty-two week low of $155.82 and a fifty-two week high of $322.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34.

Accenture (NYSE:ACN) last posted its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. Accenture had a net margin of 10.61% and a return on equity of 26.33%. Accenture’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $2.82 earnings per share. As a group, sell-side analysts forecast that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is presently 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.