Mount Yale Investment Advisors LLC Sells 3,405 Shares of Accenture plc (NYSE:ACN)

Mount Yale Investment Advisors LLC decreased its holdings in shares of Accenture plc (NYSE:ACN) by 20.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,997 shares of the information technology services provider’s stock after selling 3,405 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Accenture were worth $4,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Schrum Private Wealth Management LLC boosted its holdings in shares of Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares during the period. MQS Management LLC purchased a new stake in shares of Accenture in the 3rd quarter worth $1,040,000. Concurrent Investment Advisors LLC grew its position in shares of Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares in the last quarter. M&G PLC raised its holdings in shares of Accenture by 34.1% in the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after acquiring an additional 74,438 shares in the last quarter. Finally, Radnor Capital Management LLC lifted its stake in Accenture by 21.6% in the third quarter. Radnor Capital Management LLC now owns 22,131 shares of the information technology services provider’s stock worth $7,823,000 after acquiring an additional 3,930 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Activity at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of Accenture 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 transaction, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryoji Sekido sold 3,191 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $343.70, for a total value of $1,096,746.70. Following the transaction, the chief executive officer now owns 6 shares in the company, valued at $2,062.20. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,196 shares of company stock worth $3,226,918. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACN has been the subject of several recent research reports. TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and boosted their price target for the company from $321.00 to $400.00 in a report on Monday, September 30th. Piper Sandler upped their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Robert W. Baird reiterated a “neutral” rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Finally, UBS Group boosted their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $383.74.

Accenture Price Performance

Shares of NYSE ACN opened at $362.65 on Monday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The business’s 50 day moving average price is $357.37 and its 200 day moving average price is $348.01. 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 firm has a market cap of $226.94 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.27 EPS. On average, sell-side analysts expect that Accenture plc will post 12.69 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid 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 1.63%. Accenture’s payout ratio is 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.