Accenture plc (NYSE:ACN) Shares Bought by Cottonwood Capital Advisors LLC

Cottonwood Capital Advisors LLC lifted its holdings in Accenture plc (NYSE:ACN) by 18.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 850 shares of the information technology services provider’s stock after purchasing an additional 134 shares during the period. Cottonwood Capital Advisors LLC’s holdings in Accenture were worth $299,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Accenture in the 3rd quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture in the 4th quarter valued at $34,000. Mowery & Schoenfeld Wealth Management LLC increased 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 buying an additional 85 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in Accenture during the 4th quarter worth $35,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their target price for the company from $370.00 to $420.00 in a report on Friday, December 6th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $383.74.

Accenture Stock Down 0.2 %

Shares of Accenture stock opened at $362.65 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The company has a market capitalization of $226.94 billion, a P/E ratio of 30.42, a PEG ratio of 3.20 and a beta of 1.24. The business’s fifty day moving average price is $357.19 and its two-hundred day moving average price is $346.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47.

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, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during 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%. The company’s quarterly 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, research analysts forecast that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 8,136 shares of the firm’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 $4,412,909.16. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the sale, the chief executive officer now directly owns 6 shares of the company’s stock, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,332 shares of company stock valued at $6,172,719 in the last three months. 0.02% of the stock is currently owned by company insiders.

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.