BXM Wealth LLC Invests $571,000 in Accenture plc (NYSE:ACN)

BXM Wealth LLC bought a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, HoldingsChannel reports. The fund bought 1,624 shares of the information technology services provider’s stock, valued at approximately $571,000.

Several other institutional investors and hedge funds have also made changes to their positions in ACN. Nations Financial Group Inc. IA ADV lifted its holdings in Accenture by 3.5% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 10,031 shares of the information technology services provider’s stock valued at $3,529,000 after acquiring an additional 343 shares during the last quarter. PUREfi Wealth LLC acquired a new position in Accenture in the fourth quarter valued at approximately $917,000. Quadrant Private Wealth Management LLC lifted its holdings in Accenture by 10.6% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 1,296 shares of the information technology services provider’s stock valued at $456,000 after acquiring an additional 124 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its holdings in Accenture by 3.4% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 1,484 shares of the information technology services provider’s stock valued at $522,000 after acquiring an additional 49 shares during the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in Accenture by 48.7% in the fourth quarter. Banque Pictet & Cie SA now owns 45,951 shares of the information technology services provider’s stock valued at $16,165,000 after acquiring an additional 15,054 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Accenture

In other news, CFO Angie Y. Park sold 685 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Beatty sold 375 shares of the 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 owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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 topic of a number of recent analyst reports. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research report on Wednesday, October 30th. BMO Capital Markets boosted their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Performance

NYSE:ACN opened at $387.99 on Friday. The firm has a market capitalization of $242.80 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The business’s fifty day moving average price is $364.78 and its 200 day moving average price is $353.68. 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 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $17.15 billion. During the same quarter in the prior year, the firm posted $3.27 earnings per share. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, January 16th were paid a $1.48 dividend. The ex-dividend date was Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.53%. Accenture’s dividend payout ratio 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.