Prestige Wealth Management Group LLC Has $596,000 Stock Holdings in Accenture plc (NYSE:ACN)

Prestige Wealth Management Group LLC boosted its stake in shares of Accenture plc (NYSE:ACN) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,693 shares of the information technology services provider’s stock after purchasing an additional 72 shares during the period. Prestige Wealth Management Group LLC’s holdings in Accenture were worth $596,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC increased its holdings in Accenture by 2.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 10,787 shares of the information technology services provider’s stock valued at $3,813,000 after buying an additional 240 shares during the period. Larson Financial Group LLC grew its holdings in shares of Accenture by 17.6% during the third quarter. Larson Financial Group LLC now owns 1,114 shares of the information technology services provider’s stock worth $394,000 after purchasing an additional 167 shares during the last quarter. Cahill Financial Advisors Inc. increased its position in Accenture by 4.3% in the 3rd quarter. Cahill Financial Advisors Inc. now owns 1,117 shares of the information technology services provider’s stock valued at $395,000 after acquiring an additional 46 shares during the period. Summit Trail Advisors LLC lifted its holdings in Accenture by 21.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,182 shares of the information technology services provider’s stock worth $2,185,000 after buying an additional 1,091 shares during the period. Finally, Douglass Winthrop Advisors LLC boosted its holdings in Accenture by 1.4% in the third quarter. Douglass Winthrop Advisors LLC now owns 262,276 shares of the information technology services provider’s stock valued at $92,709,000 after acquiring an additional 3,735 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the sale, the chief executive officer now 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. In the last 90 days, insiders have sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACN. Barclays lowered their target price on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group reduced their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on Accenture from $396.00 to $364.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.91.

Accenture Stock Performance

Shares of Accenture stock opened at $307.24 on Tuesday. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company has a market capitalization of $192.27 billion, a PE ratio of 25.78, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a 50-day simple moving average of $358.32 and a two-hundred day simple moving average of $357.10.

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

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio is currently 48.89%.

About Accenture

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.