Cresset Asset Management LLC Purchases 6,287 Shares of Accenture plc (NYSE:ACN)

Cresset Asset Management LLC increased its stake in Accenture plc (NYSE:ACNFree Report) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,553 shares of the information technology services provider’s stock after buying an additional 6,287 shares during the period. Cresset Asset Management LLC’s holdings in Accenture were worth $23,354,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brave Asset Management Inc. increased its stake in Accenture by 2.8% in the 4th quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock worth $361,000 after buying an additional 28 shares during the period. Addison Advisors LLC increased its stake in Accenture by 0.9% in the 4th quarter. Addison Advisors LLC now owns 3,181 shares of the information technology services provider’s stock worth $1,116,000 after buying an additional 28 shares during the period. Searle & CO. increased its position in Accenture by 3.6% during the 4th quarter. Searle & CO. now owns 803 shares of the information technology services provider’s stock valued at $282,000 after purchasing an additional 28 shares during the period. Sound View Wealth Advisors Group LLC increased its position in Accenture by 2.1% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,363 shares of the information technology services provider’s stock valued at $478,000 after purchasing an additional 28 shares during the period. Finally, IronBridge Private Wealth LLC increased its position in Accenture by 2.3% during the 4th quarter. IronBridge Private Wealth LLC now owns 1,235 shares of the information technology services provider’s stock valued at $433,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.7 %

Accenture stock opened at $290.34 on Tuesday. The stock has a market cap of $194.74 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 3.13 and a beta of 1.22. The stock has a 50 day moving average of $308.01 and a 200-day moving average of $340.04. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACNGet Free Report) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $2.69 EPS. As a group, equities analysts predict that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, April 11th were given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACN. Bank of America cut their price objective on shares of Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. TD Cowen lowered their target price on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Robert W. Baird decreased their price objective on shares of Accenture from $372.00 to $345.00 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Jefferies Financial Group decreased their price objective on shares of Accenture from $340.00 to $275.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Finally, BMO Capital Markets decreased their price objective on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $373.00.

Check Out Our Latest Report on ACN

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 4,500 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the sale, the chief financial officer now directly owns 42,781 shares of the company’s stock, valued at $13,518,796. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Ellyn Shook sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $316.00, for a total value of $1,422,000.00. Following the completion of the transaction, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,083 shares of company stock valued at $8,959,325. Corporate insiders own 0.07% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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