Accenture PLC $ACN Stake Boosted by Parr Mcknight Wealth Management Group LLC

by · The Markets Daily

Parr Mcknight Wealth Management Group LLC boosted its stake in shares of Accenture PLC (NYSE:ACN – Free Report) by 51.7% in the second quarter, HoldingsChannel reports. The firm owned 25,285 shares of the information technology services provider’s stock after purchasing an additional 8,615 shares during the quarter. Accenture makes up approximately 1.0% of Parr Mcknight Wealth Management Group LLC’s holdings, making the stock its 18th largest holding. Parr Mcknight Wealth Management Group LLC’s holdings in Accenture were worth $7,558,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Accenture by 36.2% in the fourth quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock valued at $6,486,000 after purchasing an additional 4,905 shares during the period. American Century Companies Inc. increased its position in Accenture by 17.6% in the 1st quarter. American Century Companies Inc. now owns 448,596 shares of the information technology services provider’s stock valued at $139,980,000 after acquiring an additional 67,097 shares during the period. Tocqueville Asset Management L.P. boosted its position in Accenture by 23.3% during the 1st quarter. Tocqueville Asset Management L.P. now owns 1,111 shares of the information technology services provider’s stock worth $347,000 after acquiring an additional 210 shares during the period. Boston Family Office LLC grew its stake in shares of Accenture by 46.7% in the first quarter. Boston Family Office LLC now owns 4,580 shares of the information technology services provider’s stock worth $1,429,000 after purchasing an additional 1,459 shares in the last quarter. Finally, Cresset Asset Management LLC increased its holdings in shares of Accenture by 19.4% during the first quarter. Cresset Asset Management LLC now owns 93,186 shares of the information technology services provider’s stock valued at $29,078,000 after purchasing an additional 15,161 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 5,917 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $246.62, for a total value of $1,459,250.54. Following the completion of the sale, the chief executive officer directly owned 8,599 shares of the company’s stock, valued at $2,120,685.38. This represents a 40.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryoji Sekido sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $249.47, for a total transaction of $623,675.00. Following the completion of the transaction, the chief executive officer owned 1,390 shares in the company, valued at approximately $346,763.30. This represents a 64.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 33,319 shares of company stock worth $8,335,225 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.5%

Shares of NYSE ACN opened at $271.70 on Friday. The business has a fifty day simple moving average of $250.48 and a 200-day simple moving average of $265.21. The company has a market cap of $178.91 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 2.64 and a beta of 1.26. Accenture PLC has a 12 month low of $229.40 and a 12 month high of $398.35. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.16.

Accenture (NYSE:ACN – Get Free Report) last posted its quarterly earnings data on Thursday, September 25th. The information technology services provider reported $3.03 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.05. The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $17.34 billion. Accenture had a net margin of 11.02% and a return on equity of 26.45%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.66 earnings per share. Accenture has set its FY 2026 guidance at 13.190-13.570 EPS. Sell-side analysts predict that Accenture PLC will post 12.73 EPS for the current year.

Accenture Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 10th were paid a dividend of $1.63 per share. This is an increase from Accenture’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Friday, October 10th. This represents a $6.52 annualized dividend and a yield of 2.4%. Accenture’s dividend payout ratio (DPR) is presently 53.66%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ACN shares. Guggenheim decreased their target price on shares of Accenture from $305.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Rothschild Redb lowered shares of Accenture from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group cut their target price on Accenture from $370.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Stifel Nicolaus dropped their price objective on Accenture from $355.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Finally, BNP Paribas Exane lowered their target price on Accenture from $300.00 to $255.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.21.

View Our Latest Stock Analysis on ACN

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.

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