Advanced Asset Management Advisors Inc Buys New Stake in Accenture plc (NYSE:ACN)

Advanced Asset Management Advisors Inc bought a new stake in Accenture plc (NYSE:ACN) during the fourth quarter, Holdings Channel reports. The firm bought 600 shares of the information technology services provider’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACN. Creative Planning grew its position in Accenture by 5.5% in the 3rd quarter. Creative Planning now owns 247,724 shares of the information technology services provider’s stock worth $87,566,000 after purchasing an additional 12,993 shares during the last quarter. Swedbank AB grew its position in Accenture by 16.6% in the 3rd quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after purchasing an additional 363,401 shares during the last quarter. Net Worth Advisory Group acquired a new stake in Accenture in the 3rd quarter worth $630,000. Alta Wealth Advisors LLC acquired a new stake in Accenture in the 3rd quarter worth $275,000. Finally, AA Financial Advisors LLC acquired a new stake in Accenture in the 3rd quarter worth $270,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACN. UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a report on Wednesday, October 30th. BMO Capital Markets raised their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Piper Sandler raised their price objective on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture Trading Down 0.4 %

ACN opened at $387.99 on Monday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The firm has a 50-day moving average price of $365.29 and a two-hundred day moving average price of $354.28. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $242.80 billion, a PE ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company earned $3.27 EPS. Accenture’s revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Thursday, January 16th were given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 16th. Accenture’s dividend payout ratio is 49.66%.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on 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. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 in the last quarter. 0.02% of the stock is owned by company insiders.

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.