Axxcess Wealth Management LLC Increases Stake in Accenture PLC $ACN

Axxcess Wealth Management LLC boosted its stake in shares of Accenture PLC (NYSE:ACN) by 126.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,502 shares of the information technology services provider’s stock after acquiring an additional 30,419 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Accenture were worth $14,623,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Running Oak Capital LLC raised its holdings in shares of Accenture by 14.3% in the 3rd quarter. Running Oak Capital LLC now owns 57,541 shares of the information technology services provider’s stock valued at $14,190,000 after buying an additional 7,190 shares during the period. Weitz Investment Management Inc. increased its holdings in Accenture by 28.8% during the 3rd quarter. Weitz Investment Management Inc. now owns 160,550 shares of the information technology services provider’s stock worth $39,592,000 after purchasing an additional 35,900 shares during the period. Teacher Retirement System of Texas increased its holdings in Accenture by 27.7% during the 4th quarter. Teacher Retirement System of Texas now owns 282,340 shares of the information technology services provider’s stock worth $75,752,000 after purchasing an additional 61,314 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Accenture by 180.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 404,680 shares of the information technology services provider’s stock valued at $99,794,000 after acquiring an additional 260,357 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Accenture by 197.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 141,484 shares of the information technology services provider’s stock valued at $37,960,000 after acquiring an additional 93,880 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer directly owned 12,802 shares in the company, valued at $2,267,746.28. This represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Mizuho decreased their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a research report on Monday, March 23rd. Piper Sandler set a $282.00 price objective on Accenture in a research note on Thursday, March 5th. Guggenheim dropped their price objective on Accenture from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, March 20th. HSBC dropped their price objective on Accenture from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada dropped their price target on Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.50.

Accenture Trading Up 0.8%

NYSE:ACN opened at $179.36 on Friday. 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 stock has a market cap of $119.35 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Accenture PLC has a one year low of $155.82 and a one year high of $321.77. The business’s 50-day simple moving average is $187.42 and its 200 day simple moving average is $228.79.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 earnings per share. As a group, sell-side analysts predict that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 9th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio is 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.