Realta Investment Advisors Takes $572,000 Position in Accenture PLC (NYSE:ACN)

by · The Markets Daily

Realta Investment Advisors purchased a new stake in Accenture PLC (NYSE:ACN – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,834 shares of the information technology services provider’s stock, valued at approximately $572,000.

Other hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new stake in Accenture in the 4th quarter valued at about $30,000. Park Square Financial Group LLC bought a new stake in Accenture in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new stake in Accenture in the 4th quarter valued at about $34,000. Mountain Hill Investment Partners Corp. bought a new stake in Accenture in the 4th quarter valued at about $35,000. Finally, Inlight Wealth Management LLC bought a new stake in Accenture in the 1st quarter valued at about $32,000. 75.14% of the stock is currently owned by institutional investors.

Insider Activity at Accenture

In related news, COO John F. Walsh sold 2,500 shares of Accenture stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total value of $812,500.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on ACN. Guggenheim dropped their price target on shares of Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday, June 23rd. Robert W. Baird upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a research report on Monday, March 17th. UBS Group restated a “buy” rating and set a $395.00 price target (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Argus set a $370.00 price target on shares of Accenture in a research report on Tuesday, June 24th. Finally, Morgan Stanley dropped their price target on shares of Accenture from $340.00 to $325.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $370.71.

Check Out Our Latest Analysis on ACN

Accenture Price Performance

Shares of ACN opened at $281.01 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $176.00 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.71 and a beta of 1.29. The business’s 50-day moving average is $309.00 and its 200-day moving average is $327.36. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN – Get Free Report) 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, topping 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 during the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company earned $3.13 earnings per share. Accenture’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that Accenture PLC will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 10th. Accenture’s dividend payout ratio (DPR) is presently 47.13%.

About Accenture

(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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