Accenture plc (NYSE:ACN) Stock Holdings Lifted by Unique Wealth LLC

Unique Wealth LLC raised its position in Accenture plc (NYSE:ACN) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,005 shares of the information technology services provider’s stock after purchasing an additional 515 shares during the quarter. Unique Wealth LLC’s holdings in Accenture were worth $2,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture during the 3rd quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Accenture during the third quarter valued at about $39,000. Finally, Reston Wealth Management LLC bought a new position in Accenture in the third quarter worth $51,000. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, CEO Ryoji Sekido sold 3,191 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $343.70, for a total value of $1,096,746.70. Following the sale, the chief executive officer now owns 6 shares in the company, valued at $2,062.20. This represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 5,090 shares of the stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $373.22, for a total transaction of $1,899,689.80. Following the sale, the chief financial officer now directly owns 38,825 shares in the company, valued at approximately $14,490,266.50. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,673 shares of company stock valued at $13,507,099. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Performance

ACN stock opened at $349.14 on Tuesday. The business’s 50-day moving average is $357.93 and its two-hundred day moving average is $344.63. The company has a market cap of $218.49 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the company earned $3.27 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts predict that Accenture plc will post 12.74 earnings per share for the current year.

Accenture declared that its Board of Directors has authorized a stock buyback program on Thursday, September 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.70%. Accenture’s payout ratio is 49.66%.

Analysts Set New Price Targets

ACN has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Royal Bank of Canada raised their target price on shares of Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Susquehanna boosted their target price on Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and increased their price target for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Finally, BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $385.04.

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.