Silverlake Wealth Management LLC Sells 592 Shares of Accenture plc (NYSE:ACN)

Silverlake Wealth Management LLC lessened its stake in Accenture plc (NYSE:ACN) by 47.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 657 shares of the information technology services provider’s stock after selling 592 shares during the period. Silverlake Wealth Management LLC’s holdings in Accenture were worth $231,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ACN. Morse Asset Management Inc acquired a new stake in Accenture during the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the 3rd quarter worth $30,000. Retirement Wealth Solutions LLC acquired a new stake in Accenture during the 4th quarter worth $34,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Accenture by 607.1% in 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 buying an additional 85 shares during the period. Finally, Berbice Capital Management LLC acquired 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.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 4,750 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the transaction, the general counsel now owns 20,526 shares in the company, valued at approximately $7,446,422.28. This represents a 18.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,255 shares of company stock worth $4,756,101. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACN. Piper Sandler boosted their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Jefferies Financial Group decreased their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Morgan Stanley boosted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Up 1.6 %

Shares of ACN stock opened at $397.92 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50-day moving average is $360.63 and its 200-day moving average is $351.08. The stock has a market cap of $249.01 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 3.43 and a beta of 1.24. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

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 analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 EPS. Sell-side analysts predict that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.49%. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

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.