Accenture plc (NYSE:ACN) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in shares of Accenture plc (NYSE:ACN) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,526 shares of the information technology services provider’s stock after selling 2,842 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Accenture were worth $8,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Baldwin Wealth Partners LLC MA raised its stake in 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 worth $22,314,000 after acquiring an additional 3,883 shares in the last quarter. Schrum Private Wealth Management LLC grew its position in Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after purchasing an additional 5,038 shares during the last quarter. MQS Management LLC acquired a new position in Accenture in the third quarter valued at $1,040,000. Concurrent Investment Advisors LLC raised its holdings 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 buying an additional 14,724 shares during the last quarter. Finally, M&G PLC boosted its stake in shares of Accenture by 34.1% during the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock worth $103,361,000 after buying an additional 74,438 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now directly owns 28,866 shares in the company, valued at $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock valued at $8,316,190 in the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. 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. Jefferies Financial Group dropped their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley raised their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture Stock Performance

Shares of ACN stock opened at $390.21 on Wednesday. The company’s fifty day moving average price is $362.81 and its two-hundred day moving average price is $352.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $244.19 billion, a P/E ratio of 32.74, a P/E/G ratio of 3.44 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS 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 firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business posted $3.27 earnings per share. Accenture’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business 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 is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.52%. Accenture’s dividend payout ratio is presently 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.