Fairhaven Wealth Management LLC Has $224,000 Stake in Accenture plc (NYSE:ACN)

Fairhaven Wealth Management LLC grew its position in Accenture plc (NYSE:ACN) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 737 shares of the information technology services provider’s stock after purchasing an additional 43 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Accenture were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in Accenture during the second quarter worth approximately $26,000. Annapolis Financial Services LLC lifted its stake in shares of Accenture by 507.7% in the 1st quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Accenture in the 4th quarter valued at $29,000. Atwood & Palmer Inc. lifted its stake in shares of Accenture by 214.8% in the 1st quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 58 shares during the last quarter. Finally, Grayhawk Investment Strategies Inc. bought a new position in shares of Accenture in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analysts Set New Price Targets

ACN has been the subject of a number of research reports. UBS Group upgraded Accenture from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research note on Friday, July 19th. Piper Sandler lowered their target price on Accenture from $379.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, June 17th. Jefferies Financial Group lowered their target price on Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Bank of America lowered their target price on Accenture from $419.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus decreased their price target on Accenture from $395.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $352.33.

Accenture Stock Up 0.5 %

ACN stock traded up $1.74 during mid-day trading on Friday, reaching $341.95. 2,004,144 shares of the company traded hands, compared to its average volume of 1,997,440. The stock has a market cap of $214.30 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 3.81 and a beta of 1.23. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The firm’s 50 day moving average price is $319.98 and its 200 day moving average price is $325.26.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, June 20th. The information technology services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $16.55 billion. Accenture had a net margin of 10.79% and a return on equity of 27.48%. Accenture’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $3.19 EPS. On average, analysts anticipate that Accenture plc will post 11.95 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, July 11th were given a dividend of $1.29 per share. The ex-dividend date was Thursday, July 11th. This represents a $5.16 annualized dividend and a dividend yield of 1.51%. Accenture’s dividend payout ratio is currently 47.25%.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the sale, the general counsel now owns 22,849 shares of the company’s stock, valued at approximately $7,564,161.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kathleen R. Mcclure sold 3,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $309.22, for a total transaction of $927,660.00. Following the completion of the transaction, the chief financial officer now directly owns 40,070 shares in the company, valued at approximately $12,390,445.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 8,145 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $331.05, for a total transaction of $2,696,402.25. Following the transaction, the general counsel now owns 22,849 shares of the company’s stock, valued at $7,564,161.45. The disclosure for this sale can be found here. Insiders have sold a total of 21,421 shares of company stock valued at $6,912,635 in the last 90 days. 0.07% of the stock is currently owned by corporate insiders.

Accenture Company Profile

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.