Florida Trust Wealth Management Co Has $49.67 Million Holdings in Accenture PLC $ACN

Florida Trust Wealth Management Co trimmed its position in shares of Accenture PLC (NYSE:ACN) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,133 shares of the information technology services provider’s stock after selling 18,833 shares during the quarter. Accenture accounts for 1.4% of Florida Trust Wealth Management Co’s investment portfolio, making the stock its 18th largest holding. Florida Trust Wealth Management Co’s holdings in Accenture were worth $49,671,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ACN. Capital International Investors raised its holdings in Accenture by 41.1% during the third quarter. Capital International Investors now owns 17,128,134 shares of the information technology services provider’s stock worth $4,223,839,000 after buying an additional 4,984,930 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Accenture during the third quarter worth about $311,694,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Accenture by 12.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,147,796 shares of the information technology services provider’s stock worth $2,502,446,000 after acquiring an additional 1,148,970 shares during the last quarter. Capital World Investors bought a new position in Accenture in the 3rd quarter valued at about $268,578,000. Finally, First Trust Advisors LP boosted its stake in Accenture by 85.9% during the 3rd quarter. First Trust Advisors LP now owns 2,041,945 shares of the information technology services provider’s stock valued at $503,544,000 after purchasing an additional 943,371 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In related news, General Counsel Joel Unruch sold 1,332 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $275.00, for a total transaction of $366,300.00. Following the sale, the general counsel owned 28,207 shares of the company’s stock, valued at approximately $7,756,925. This represents a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Manish Sharma sold 2,731 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $288.13, for a total transaction of $786,883.03. Following the completion of the sale, the insider directly owned 7,057 shares in the company, valued at approximately $2,033,333.41. The trade was a 27.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,088 shares of company stock valued at $5,970,434. 0.02% of the stock is currently owned by insiders.

Accenture Stock Down 0.1%

ACN opened at $201.18 on Friday. The company’s 50-day moving average price is $217.22 and its two-hundred day moving average price is $243.19. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a twelve month low of $187.00 and a twelve month high of $325.71. The stock has a market cap of $133.87 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.91 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. Accenture’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 annualized dividend and a yield of 3.2%. Accenture’s dividend payout ratio (DPR) is 53.40%.

Analyst Ratings Changes

Several analysts have recently commented on ACN shares. Rothschild & Co Redburn increased their price objective on Accenture from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, January 5th. Piper Sandler set a $282.00 price target on Accenture in a research report on Thursday, March 5th. Morgan Stanley dropped their price objective on Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Susquehanna upped their target price on shares of Accenture from $270.00 to $277.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Finally, TD Cowen lowered their target price on shares of Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a report on Monday, March 16th. Eighteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.88.

About Accenture

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.