Avestar Capital LLC Has $1.38 Million Holdings in Accenture plc (NYSE:ACN)

Avestar Capital LLC increased its holdings in Accenture plc (NYSE:ACN) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,909 shares of the information technology services provider’s stock after buying an additional 576 shares during the period. Avestar Capital LLC’s holdings in Accenture were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Masso Torrence Wealth Management Inc. raised its position 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 worth $511,000 after purchasing an additional 28 shares during the period. BSW Wealth Partners increased its stake in Accenture by 0.7% during the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock valued at $1,441,000 after purchasing an additional 28 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Accenture by 5.7% in 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 buying an additional 28 shares in the last quarter. Slow Capital Inc. grew its holdings 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 buying an additional 29 shares during the last quarter. Finally, Tradition Wealth Management LLC increased its position 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 worth $3,871,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $388.85 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $243.34 billion, a PE ratio of 32.62, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The stock’s fifty day moving average price is $364.15 and its two-hundred day moving average price is $353.43.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate 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%. The company’s 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 earnings per share. On average, equities research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a dividend of $1.48 per share. 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 1.52%. Accenture’s payout ratio is 49.66%.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of analyst reports. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. UBS Group increased their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture 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.