Resonant Capital Advisors LLC Boosts Stock Holdings in Accenture PLC (NYSE:ACN)

Resonant Capital Advisors LLC raised its position in Accenture PLC (NYSE:ACN) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,726 shares of the information technology services provider’s stock after buying an additional 49 shares during the period. Resonant Capital Advisors LLC’s holdings in Accenture were worth $3,971,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ACN. Mpwm Advisory Solutions LLC purchased a new position in Accenture during the fourth quarter worth approximately $30,000. Park Square Financial Group LLC acquired a new stake in Accenture in the 4th quarter valued at $31,000. Inlight Wealth Management LLC purchased a new stake in Accenture in the 1st quarter worth $32,000. Promus Capital LLC acquired a new position in Accenture during the fourth quarter worth $34,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Accenture in the fourth quarter valued at about $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ACN. Mizuho set a $348.00 target price on Accenture and gave the company an “outperform” rating in a report on Tuesday, June 24th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Royal Bank Of Canada dropped their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Wall Street Zen downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, BMO Capital Markets dropped their price objective on shares of Accenture from $355.00 to $325.00 and set a “market perform” rating for the company in a research note on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.71.

Accenture Price Performance

Shares of ACN opened at $302.00 on Thursday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35. The company has a market cap of $189.15 billion, a P/E ratio of 24.04, a PEG ratio of 2.84 and a beta of 1.29. The firm’s 50 day moving average price is $309.06 and its 200 day moving average price is $330.41.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) 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 business had revenue of $17.73 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same period last year, the firm earned $3.13 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts forecast that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 1.96%. The ex-dividend date is Thursday, July 10th. Accenture’s dividend payout ratio (DPR) is presently 47.13%.

Insider Activity

In other news, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction dated 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 owned 17,237 shares in the company, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $812,500.00. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock valued at $2,507,366 over the last quarter. Company insiders own 0.02% of the company’s stock.

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.