Accenture plc (NYSE:ACN) Shares Bought by Avitas Wealth Management LLC

Avitas Wealth Management LLC increased its holdings in Accenture plc (NYSE:ACN) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,985 shares of the information technology services provider’s stock after purchasing an additional 40 shares during the period. Avitas Wealth Management LLC’s holdings in Accenture were worth $1,754,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA lifted its holdings in shares of Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after acquiring an additional 3,883 shares during the period. Schrum Private Wealth Management LLC boosted its holdings in shares of Accenture by 78.6% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Accenture during the 3rd quarter worth $1,040,000. Concurrent Investment Advisors LLC raised its position in shares of Accenture by 70.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares during the period. Finally, M&G PLC boosted its holdings in Accenture by 34.1% in the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after acquiring an additional 74,438 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 375 shares of the stock in a transaction dated Monday, December 23rd. The shares were 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 in the company, valued at $1,845,916.50. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the transaction, the general counsel now owns 20,526 shares of the company’s stock, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,255 shares of company stock valued at $4,756,101. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

ACN has been the topic of a number of research reports. Morgan Stanley raised their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target on the stock. in a research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Jefferies Financial Group reduced their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

ACN opened at $391.98 on Wednesday. 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 1-year low of $278.69 and a 1-year high of $392.45. The company has a 50-day moving average of $360.05 and a 200-day moving average of $350.64. The company has a market capitalization of $245.30 billion, a P/E ratio of 32.88, a PEG ratio of 3.43 and a beta of 1.24.

Accenture (NYSE:ACN) last announced 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. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 earnings per share. Equities analysts expect that Accenture plc will post 12.69 EPS for the current fiscal 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 paid a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.51%. Accenture’s payout ratio is 49.66%.

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.