Tectonic Advisors LLC Sells 157 Shares of Accenture plc (NYSE:ACN)

Tectonic Advisors LLC reduced its position in Accenture plc (NYSE:ACN) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,078 shares of the information technology services provider’s stock after selling 157 shares during the period. Tectonic Advisors LLC’s holdings in Accenture were worth $731,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA boosted its holdings in 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 valued at $22,314,000 after acquiring an additional 3,883 shares during the period. Schrum Private Wealth Management LLC boosted its stake in shares of Accenture by 78.6% during the third 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 period. MQS Management LLC bought a new position in shares of Accenture in the third quarter worth about $1,040,000. Concurrent Investment Advisors LLC increased its stake in 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 position in Accenture by 34.1% in the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after buying an additional 74,438 shares during the period. Institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ACN shares. JPMorgan Chase & Co. lifted their price target on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. BMO Capital Markets lifted 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. BNP Paribas downgraded 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 lifted their price objective on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Trading Up 1.6 %

Shares of NYSE:ACN opened at $397.92 on Thursday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $398.35. The firm has a market capitalization of $249.01 billion, a P/E ratio of 33.38, a P/E/G ratio of 3.43 and a beta of 1.24. 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 business’s 50-day moving average is $360.63 and its 200 day moving average is $351.08.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $17.15 billion. During the same period last year, the business earned $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts predict that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture Announces Dividend

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 paid a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.49%. Accenture’s dividend payout ratio (DPR) is 49.66%.

Insider Buying and Selling at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the sale, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,255 shares of company stock worth $4,756,101. 0.02% of the stock is currently owned by insiders.

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.