McAdam LLC Raises Stake in Accenture plc (NYSE:ACN)

McAdam LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 18.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,478 shares of the information technology services provider’s stock after purchasing an additional 230 shares during the period. McAdam LLC’s holdings in Accenture were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Baldwin Wealth Partners LLC MA raised its holdings in shares of Accenture by 6.5% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the period. Schrum Private Wealth Management LLC raised its stake in shares of Accenture by 78.6% during 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 acquired a new position in shares of Accenture during the third quarter worth $1,040,000. Concurrent Investment Advisors LLC boosted its stake in shares of Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after purchasing an additional 14,724 shares during the period. Finally, M&G PLC grew its holdings in Accenture by 34.1% during the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after purchasing an additional 74,438 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Accenture

In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the sale, the general counsel now directly owns 20,526 shares in the company, valued at $7,446,422.28. This represents a 18.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,255 shares of company stock worth $4,756,101 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACN shares. UBS Group upped their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. BMO Capital Markets upped their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target 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. Finally, 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. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Up 1.1 %

ACN stock opened at $384.88 on Monday. 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’s 50-day simple moving average is $359.56 and its 200 day simple moving average is $350.06. The stock has a market cap of $240.86 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the previous year, the company posted $3.27 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts predict that Accenture plc will post 12.69 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is 49.66%.

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.