Accenture plc (NYSE:ACN) Shares Bought by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its position in Accenture plc (NYSE:ACN) by 2.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,950 shares of the information technology services provider’s stock after acquiring an additional 65 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Accenture were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Masso Torrence Wealth Management Inc. increased its stake in shares of Accenture by 2.0% during the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock valued at $511,000 after acquiring an additional 28 shares during the period. BSW Wealth Partners increased its stake in shares of Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock valued at $1,441,000 after acquiring an additional 28 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the period. Slow Capital Inc. increased its stake in shares of Accenture by 0.3% during the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after acquiring an additional 29 shares during the period. Finally, Tradition Wealth Management LLC increased its stake in shares of Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Morgan Stanley raised their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. 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 research note on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling

In related news, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 961 shares of Accenture stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the transaction, the insider now owns 5,484 shares in the company, valued at $1,943,913.48. This trade represents a 14.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last quarter. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Down 0.3 %

Accenture stock opened at $388.85 on Thursday. The company has a market capitalization of $243.34 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.44 and a beta of 1.24. The firm’s fifty day simple moving average is $363.57 and its 200-day simple moving average is $353.18. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for 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%. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.27 EPS. Sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company 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. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.52%. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

About Accenture

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.