Hedeker Wealth LLC Has $4.75 Million Stock Position in Accenture plc (NYSE:ACN)

Hedeker Wealth LLC grew its position in Accenture plc (NYSE:ACN) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,703 shares of the information technology services provider’s stock after buying an additional 49 shares during the period. Accenture accounts for approximately 1.4% of Hedeker Wealth LLC’s investment portfolio, making the stock its 27th largest holding. Hedeker Wealth LLC’s holdings in Accenture were worth $4,750,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC grew its stake in shares of Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in Accenture during the fourth quarter worth about $27,000. Annapolis Financial Services LLC lifted its holdings in Accenture by 507.7% during the first quarter. Annapolis Financial Services LLC now owns 79 shares of the information technology services provider’s stock worth $27,000 after acquiring an additional 66 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Accenture during the fourth quarter worth about $29,000. Finally, Atwood & Palmer Inc. lifted its holdings in Accenture by 214.8% during the first quarter. Atwood & Palmer Inc. now owns 85 shares of the information technology services provider’s stock worth $29,000 after acquiring an additional 58 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Price Performance

NYSE ACN traded up $1.58 during trading on Wednesday, reaching $305.41. 240,335 shares of the company’s stock were exchanged, compared to its average volume of 2,887,882. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The business has a 50 day moving average price of $299.86 and a 200-day moving average price of $335.76. The stock has a market capitalization of $191.40 billion, a P/E ratio of 27.82, a PEG ratio of 3.38 and a beta of 1.23.

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

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, July 11th. Accenture’s payout ratio is 47.25%.

Analysts Set New Price Targets

ACN has been the topic of several recent analyst reports. Barclays reduced their target price on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, June 17th. TD Cowen cut their price target on Accenture from $294.00 to $293.00 and set a “hold” rating on the stock in a report on Friday, June 21st. The Goldman Sachs Group initiated coverage on Accenture in a report on Monday, June 24th. They issued a “neutral” rating and a $335.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and cut their price target for the company from $409.00 to $295.00 in a report on Wednesday, May 15th. Finally, Bank of America cut their price target on Accenture from $419.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus target price of $352.74.

Insider Activity

In other news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the transaction, the general counsel now owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kathleen R. Mcclure sold 4,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 42,781 shares in the company, valued at $13,518,796. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the sale, the general counsel now owns 30,702 shares of the company’s stock, valued at $9,705,516.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,083 shares of company stock valued at $6,302,285. 0.07% of the stock is owned by insiders.

About Accenture

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.