Congress Wealth Management LLC DE Increases Stock Holdings in Accenture plc (NYSE:ACN)

Congress Wealth Management LLC DE lifted its stake in shares of Accenture plc (NYSE:ACNFree Report) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,137 shares of the information technology services provider’s stock after purchasing an additional 1,803 shares during the period. Congress Wealth Management LLC DE’s holdings in Accenture were worth $30,928,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC lifted its stake in Accenture by 180.0% in the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Accenture during the 4th quarter valued at $27,000. Halpern Financial Inc. purchased a new position in Accenture in the 4th quarter worth about $31,000. Laffer Tengler Investments Inc. lifted its holdings in shares of Accenture by 142.9% during the 4th quarter. Laffer Tengler Investments Inc. now owns 102 shares of the information technology services provider’s stock valued at $36,000 after buying an additional 60 shares during the period. Finally, Private Wealth Management Group LLC bought a new stake in shares of Accenture during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the sale, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at approximately $13,518,796. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John F. Walsh sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the transaction, the chief operating officer now directly owns 17,877 shares in the company, valued at approximately $5,937,488.01. The disclosure for this sale can be found here. Insiders sold 28,083 shares of company stock valued at $8,959,325 in the last three months. 0.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ACN. Morgan Stanley upped their price objective on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Citigroup reduced their price target on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Stifel Nicolaus raised their price objective on Accenture from $363.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets decreased their price objective on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Finally, Mizuho reissued a “buy” rating and set a $398.00 target price (down previously from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $380.24.

Read Our Latest Report on Accenture

Accenture Trading Down 1.6 %

ACN stock traded down $4.98 on Friday, hitting $300.95. The company’s stock had a trading volume of 2,048,217 shares, compared to its average volume of 2,507,752. Accenture plc has a 1 year low of $285.18 and a 1 year high of $387.51. The stock has a market cap of $201.86 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 3.33 and a beta of 1.21. The firm has a 50 day moving average of $322.80 and a two-hundred day moving average of $342.49.

Accenture (NYSE:ACNGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. During the same period last year, the firm earned $2.69 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts forecast that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

Accenture Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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