Neumann Capital Management LLC Has $2.51 Million Holdings in Accenture plc (NYSE:ACN)

Neumann Capital Management LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,122 shares of the information technology services provider’s stock after buying an additional 100 shares during the quarter. Neumann Capital Management LLC’s holdings in Accenture were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of ACN. Morse Asset Management Inc acquired a new stake in shares of Accenture in the third quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in Accenture during the third quarter worth $30,000. Retirement Wealth Solutions LLC acquired a new position in shares of Accenture in the fourth quarter valued at $34,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of 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 worth $35,000 after buying an additional 85 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in Accenture in the 3rd quarter valued at about $39,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,332 shares of company stock valued at $6,172,719. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Performance

Accenture stock opened at $362.76 on Friday. The business has a 50 day moving average of $357.18 and a 200-day moving average of $346.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company has a market capitalization of $227.01 billion, a P/E ratio of 30.43, a P/E/G ratio of 3.17 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 analysts’ consensus estimates of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.27 earnings per share. On average, equities research analysts predict that Accenture plc will post 12.69 earnings per share for the current year.

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

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, January 16th. Accenture’s payout ratio is presently 49.66%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Jefferies Financial Group lowered their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 8th. Bank of America boosted their price objective on shares of Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Eight equities 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $383.74.

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.