Angeles Wealth Management LLC Has $1.10 Million Stake in Accenture plc (NYSE:ACN)

Angeles Wealth Management LLC lifted its holdings in Accenture plc (NYSE:ACN) by 7.9% during the 4th quarter, Holdings Channel reports. The fund owned 3,135 shares of the information technology services provider’s stock after acquiring an additional 230 shares during the quarter. Angeles Wealth Management LLC’s holdings in Accenture were worth $1,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ACN. Liberty Capital Management Inc. lifted its position in Accenture by 2.5% during the 4th quarter. Liberty Capital Management Inc. now owns 3,801 shares of the information technology services provider’s stock worth $1,337,000 after buying an additional 91 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 28 shares in the last quarter. Howland Capital Management LLC grew its stake in shares of Accenture by 18.9% during the fourth quarter. Howland Capital Management LLC now owns 3,417 shares of the information technology services provider’s stock valued at $1,202,000 after purchasing an additional 543 shares during the last quarter. Birch Hill Investment Advisors LLC raised its position in Accenture by 0.3% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 28,467 shares of the information technology services provider’s stock worth $10,015,000 after purchasing an additional 82 shares during the last quarter. Finally, AlphaStar Capital Management LLC acquired a new position in Accenture during the 4th quarter worth $209,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Down 0.3 %

Shares of NYSE ACN opened at $386.04 on Monday. The business has a 50-day simple moving average of $362.30 and a two-hundred day simple moving average of $352.18. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a market cap of $241.58 billion, a P/E ratio of 32.39, a P/E/G ratio of 3.44 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the company earned $3.27 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. Research analysts anticipate that Accenture plc will post 12.73 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. Shareholders of record on Thursday, January 16th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio is currently 49.66%.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Beatty sold 375 shares of the business’s 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 completion of the transaction, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ACN shares. BMO Capital Markets boosted their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research note on Wednesday, October 30th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $387.22.

About Accenture

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.