Maridea Wealth Management LLC Purchases New Position in Accenture plc (NYSE:ACN)

Maridea Wealth Management LLC acquired a new stake in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 594 shares of the information technology services provider’s stock, valued at approximately $209,000.

Other large investors have also made changes to their positions in the company. Baldwin Wealth Partners LLC MA grew its stake in 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 buying an additional 3,883 shares during the last quarter. Davidson Trust Co. grew its position in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after acquiring an additional 158 shares during the last quarter. Franklin Street Advisors Inc. NC increased its holdings in Accenture by 126.8% during the 4th 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 purchasing an additional 22,391 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Accenture by 37.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock worth $1,088,000 after purchasing an additional 843 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its holdings in shares of Accenture by 127.1% during the fourth quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock worth $817,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.48, for a total transaction of $885,136.56. Following the transaction, 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. Insiders have sold a total of 21,905 shares of company stock worth $8,181,753 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Accenture to $355.00 and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley lowered their price target on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. boosted their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Stifel Nicolaus lowered their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.23.

Accenture Price Performance

Shares of ACN opened at $304.32 on Friday. The company has a 50 day moving average of $354.96 and a 200-day moving average of $356.03. 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 stock has a market capitalization of $190.61 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.23 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35.

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

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

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.