Retirement Wealth Solutions LLC Makes New Investment in Accenture plc (NYSE:ACN)

Retirement Wealth Solutions LLC acquired a new position in Accenture plc (NYSE:ACN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 98 shares of the information technology services provider’s stock, valued at approximately $34,000.

Several other institutional investors have also recently made changes to their positions in the business. Morse Asset Management Inc acquired a new position in shares of Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in Accenture during the third quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Accenture during the 3rd quarter worth approximately $39,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Accenture during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 0.5 %

Shares of NYSE:ACN opened at $352.33 on Friday. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. 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 business has a fifty day moving average of $357.65 and a two-hundred day moving average of $345.02. The stock has a market cap of $220.48 billion, a P/E ratio of 29.56, a PEG ratio of 3.11 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $3.27 earnings per share. On average, research analysts expect that Accenture plc will post 12.69 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.68%. Accenture’s payout ratio is 49.66%.

Accenture declared that its board has authorized a stock repurchase plan on Thursday, September 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $329.00 price objective on shares of Accenture in a report on Friday, September 20th. UBS Group upped their price target on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Jefferies Financial Group raised their price objective on Accenture from $355.00 to $385.00 and gave the company a “hold” rating in a report on Friday, December 20th. BMO Capital Markets upped their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Bank of America boosted their price target on shares of Accenture from $365.00 to $388.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Eight investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $385.04.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the completion of the transaction, the chief executive officer now owns 20,324 shares in the company, valued at approximately $7,645,075.84. This represents a 30.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,125 shares of company stock worth $9,570,260 over the last quarter. 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.