Connecticut Wealth Management LLC Has $1.69 Million Stake in Accenture PLC $ACN

Connecticut Wealth Management LLC reduced its stake in shares of Accenture PLC (NYSE:ACN) by 39.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,312 shares of the information technology services provider’s stock after selling 4,163 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Accenture were worth $1,694,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ACN. Triumph Capital Management bought a new stake in shares of Accenture during the third quarter valued at approximately $26,000. Board of the Pension Protection Fund bought a new stake in shares of Accenture during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of Accenture during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC grew its stake in shares of Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. Finally, Steph & Co. grew its stake in shares of Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets decreased their price target on shares of Accenture from $300.00 to $230.00 and set a “market perform” rating on the stock in a research note on Friday, March 20th. The Goldman Sachs Group decreased their price target on shares of Accenture from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Accenture from $210.00 to $199.00 and set a “hold” rating on the stock in a research note on Tuesday, June 2nd. Royal Bank Of Canada reduced their price objective on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Accenture from $275.00 to $248.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $259.89.

Insider Buying and Selling at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of Accenture 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 transaction, the chief executive officer directly owned 12,802 shares of the company’s stock, valued at $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Accenture Price Performance

Shares of ACN stock opened at $167.69 on Friday. Accenture PLC has a 52-week low of $155.82 and a 52-week high of $318.62. The stock has a market cap of $111.59 billion, a PE ratio of 13.73, a PEG ratio of 1.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s 50 day moving average price is $182.33 and its two-hundred day moving average price is $222.20.

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 net margin of 10.61% and a return on equity of 26.33%. 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 business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast that Accenture PLC will post 13.87 EPS for the current year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.

Accenture Company Profile

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.