Eagle Wealth Strategies LLC Has $2.11 Million Stock Holdings in Accenture plc (NYSE:ACN)

Eagle Wealth Strategies LLC decreased its holdings in shares of Accenture plc (NYSE:ACN) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,989 shares of the information technology services provider’s stock after selling 439 shares during the quarter. Accenture makes up about 1.5% of Eagle Wealth Strategies LLC’s holdings, making the stock its 11th biggest position. Eagle Wealth Strategies LLC’s holdings in Accenture were worth $2,107,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Morse Asset Management Inc bought a new position in Accenture during the third quarter valued at about $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the 3rd quarter valued at approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in Accenture in the 4th quarter worth approximately $34,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Accenture in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Up 1.1 %

Shares of NYSE ACN opened at $356.31 on Wednesday. The business has a fifty day moving average of $357.40 and a two-hundred day moving average of $346.66. 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 52-week low of $278.69 and a 52-week high of $387.51. The stock has a market cap of $222.98 billion, a PE ratio of 29.89, a PEG ratio of 3.14 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $3.27 earnings per share. As a group, equities research analysts expect that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 26th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.66%. Accenture’s dividend payout ratio is 49.66%.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 8,136 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $362.07, for a total transaction of $2,945,801.52. Following the completion of the sale, the chief executive officer now directly owns 12,188 shares of the company’s stock, valued at approximately $4,412,909.16. The trade was a 40.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of the firm’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 directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,845 shares of company stock valued at $5,645,518 in the last 90 days. 0.02% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a research note on Tuesday, December 3rd. BMO Capital Markets raised their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. JPMorgan Chase & Co. upped their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and an average price target of $383.74.

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.