Precedent Wealth Partners LLC Has $1.53 Million Holdings in Accenture plc (NYSE:ACN)

Precedent Wealth Partners LLC trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,340 shares of the information technology services provider’s stock after selling 40 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Accenture were worth $1,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in Accenture in the 3rd quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the third quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new stake in Accenture during the 4th quarter valued at approximately $34,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new position in Accenture in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling at Accenture

In other news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This represents a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,136 shares of Accenture stock in a transaction on 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 transaction, the chief executive officer now directly owns 12,188 shares in the company, valued at approximately $4,412,909.16. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,332 shares of company stock worth $6,172,719. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. increased their target price 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. UBS Group upped their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Piper Sandler boosted their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $383.74.

Accenture Stock Down 0.2 %

Shares of NYSE ACN opened at $362.65 on Friday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The firm’s 50-day simple moving average is $357.37 and its 200 day simple moving average is $347.30. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market cap of $226.94 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (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 for the quarter, compared to analyst estimates of $17.15 billion. During the same period in the prior year, the business earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 12.69 earnings per share for the current fiscal 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 issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.63%. Accenture’s dividend payout ratio is currently 49.66%.

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.