Accurate Wealth Management LLC Has $643,000 Stock Holdings in Accenture plc (NYSE:ACN)

Accurate Wealth Management LLC lifted its stake in shares of Accenture plc (NYSE:ACN) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,833 shares of the information technology services provider’s stock after purchasing an additional 124 shares during the quarter. Accurate Wealth Management LLC’s holdings in Accenture were worth $643,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ACN. Edgestream Partners L.P. acquired a new stake in shares of Accenture during the 2nd quarter worth $1,524,000. Wealth Alliance grew its holdings in shares of Accenture by 10.4% during the 2nd quarter. Wealth Alliance now owns 5,409 shares of the information technology services provider’s stock worth $1,641,000 after purchasing an additional 511 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of Accenture by 32.7% during the 2nd quarter. E Fund Management Co. Ltd. now owns 10,256 shares of the information technology services provider’s stock worth $3,112,000 after purchasing an additional 2,526 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Accenture by 59.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 312,741 shares of the information technology services provider’s stock valued at $94,889,000 after buying an additional 116,005 shares in the last quarter. Finally, Argent Trust Co boosted its stake in Accenture by 4.1% in the second quarter. Argent Trust Co now owns 15,644 shares of the information technology services provider’s stock valued at $4,747,000 after buying an additional 610 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Jefferies Financial Group raised their price objective on Accenture from $355.00 to $385.00 and gave the company a “hold” rating in a research note on Friday, December 20th. BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. BMO Capital Markets increased 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. Finally, UBS Group increased their target price on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $385.04.

Insider Activity at Accenture

In related news, insider Angela Beatty sold 673 shares of Accenture stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $372.18, for a total transaction of $250,477.14. Following the sale, the insider now directly owns 5,650 shares in the company, valued at approximately $2,102,817. This trade represents a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryoji Sekido sold 3,191 shares of Accenture stock in a transaction 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 sale, the chief executive officer now owns 6 shares in the company, valued at $2,062.20. This trade represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,125 shares of company stock valued at $9,570,260 over the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of Accenture stock opened at $349.45 on Thursday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The stock has a 50 day moving average price of $357.98 and a two-hundred day moving average price of $344.94. The stock has a market capitalization of $218.68 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its quarterly earnings data 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 26.83% and a net margin of 11.20%. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the firm posted $3.27 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that Accenture plc will post 12.74 EPS for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.69%. Accenture’s payout ratio is 49.66%.

Accenture announced that its Board of Directors has approved a share buyback program on Thursday, September 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.