Accenture plc (NYSE:ACN) Position Increased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC raised its stake in Accenture plc (NYSE:ACN) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,693 shares of the information technology services provider’s stock after buying an additional 72 shares during the period. Prestige Wealth Management Group LLC’s holdings in Accenture were worth $596,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Accenture by 378.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after purchasing an additional 4,345,039 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Accenture in the fourth quarter worth approximately $666,495,000. Swedbank AB raised its holdings in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after acquiring an additional 1,212,011 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Accenture by 51,837.3% in the 4th quarter. Proficio Capital Partners LLC now owns 860,601 shares of the information technology services provider’s stock valued at $302,751,000 after acquiring an additional 858,944 shares in the last quarter. Finally, Amundi boosted its stake in Accenture by 27.9% in the 4th quarter. Amundi now owns 3,790,069 shares of the information technology services provider’s stock worth $1,353,909,000 after purchasing an additional 826,038 shares during the period. 75.14% of the stock is owned by institutional investors.

Accenture Trading Up 0.6 %

Shares of NYSE:ACN opened at $307.24 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock’s 50-day moving average is $358.32 and its 200-day moving average is $357.10. The company has a market cap of $192.27 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35.

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

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio is currently 48.89%.

Insider Activity at Accenture

In related news, CFO Angie Y. Park sold 685 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,905 shares of company stock worth $8,181,753. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACN. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Guggenheim dropped their target price on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets lowered their price objective on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley cut their target price on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research report on Monday, March 17th. Finally, Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average price target of $378.91.

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.