Wellspring Financial Advisors LLC Invests $236,000 in Accenture plc (NYSE:ACN)

Wellspring Financial Advisors LLC bought a new stake in Accenture plc (NYSE:ACN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 670 shares of the information technology services provider’s stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of ACN. Morse Asset Management Inc acquired a new stake in Accenture in the 3rd quarter valued at approximately $25,000. FPC Investment Advisory Inc. grew its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Accenture during the 4th quarter worth about $30,000. POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in Accenture in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now owns 28,866 shares in the company, valued at approximately $10,232,419.68. This trade represents a 7.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 21,905 shares of company stock worth $8,181,753. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ACN. Stifel Nicolaus lowered their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets upped their price objective on Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 target price for the company in a report on Monday, March 17th. Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, UBS Group lowered their price objective on Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $378.23.

Accenture Stock Down 5.4 %

Accenture stock opened at $285.04 on Monday. The company has a market capitalization of $178.53 billion, a P/E ratio of 23.91, a PEG ratio of 3.23 and a beta of 1.32. 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 fifty-two week low of $275.00 and a fifty-two week high of $398.35. The stock has a 50-day simple moving average of $349.68 and a 200-day simple moving average of $354.67.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 earnings per share. Equities research analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.08%. Accenture’s dividend payout ratio is presently 48.89%.

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.