CreativeOne Wealth LLC Raises Holdings in Accenture plc (NYSE:ACN)

CreativeOne Wealth LLC raised its stake in Accenture plc (NYSE:ACN) by 13.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,194 shares of the information technology services provider’s stock after purchasing an additional 623 shares during the quarter. CreativeOne Wealth LLC’s holdings in Accenture were worth $1,827,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ACN. Baldwin Wealth Partners LLC MA boosted its holdings in shares of Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares during the period. Davidson Trust Co. grew its position in shares of Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after buying an additional 158 shares during the last quarter. Franklin Street Advisors Inc. NC increased its stake in shares of Accenture by 126.8% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock valued at $14,090,000 after buying an additional 22,391 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of Accenture by 37.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock valued at $1,088,000 after acquiring an additional 843 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its holdings in Accenture by 127.1% in the fourth quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock valued at $817,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ACN shares. BMO Capital Markets raised their target price on shares of Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Robert W. Baird raised Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective on the stock in a research report on Monday, March 17th. Mizuho decreased their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Stifel Nicolaus dropped their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $378.23.

Accenture Stock Down 0.4 %

Accenture stock opened at $288.58 on Wednesday. The firm has a market cap of $180.75 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.23 and a beta of 1.32. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The stock has a fifty day simple moving average of $332.48 and a two-hundred day simple moving average of $351.15.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. During the same quarter in the previous year, the firm earned $2.77 EPS. Accenture’s revenue was up 5.7% on a year-over-year basis. Equities analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 2.05%. Accenture’s dividend payout ratio is presently 48.89%.

Insider Activity

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now owns 5,364 shares of the company’s stock, valued at $1,512,111.60. This trade represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,921 shares of company stock valued at $9,876,619 in the last ninety days. 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.