Ullmann Wealth Partners Group LLC Acquires Shares of 670 Accenture plc (NYSE:ACN)

Ullmann Wealth Partners Group LLC bought a new stake in shares of Accenture plc (NYSE:ACN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 670 shares of the information technology services provider’s stock, valued at approximately $236,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture during the third quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Accenture in the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC acquired a new stake in Accenture during the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the sale, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $7,645,075.84. This represents a 30.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,125 shares of company stock worth $9,570,260 over the last 90 days. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ACN shares. Royal Bank of Canada boosted their price target on shares of Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Piper Sandler Companies reiterated a “neutral” rating and set a $329.00 price target on shares of Accenture in a report on Friday, September 20th. Guggenheim raised their target price on Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Finally, Piper Sandler boosted their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.04.

Accenture Stock Up 0.3 %

ACN opened at $350.92 on Friday. The business’s 50-day simple moving average is $357.85 and its 200-day simple moving average is $344.97. The stock has a market capitalization of $219.60 billion, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 3.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.27 earnings per share. Analysts anticipate that Accenture plc will post 12.69 EPS for the current year.

Accenture announced that its board has authorized a stock buyback plan on Thursday, September 26th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is presently 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.