Accenture plc (NYSE:ACN) Shares Sold by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC cut its position in Accenture plc (NYSE:ACN) by 47.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 657 shares of the information technology services provider’s stock after selling 592 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Accenture were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ACN. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture in the 3rd quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at about $34,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of 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 valued at $35,000 after purchasing an additional 85 shares during the period. Finally, Berbice Capital Management LLC acquired a new stake in shares of Accenture in the 4th quarter valued at about $35,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Up 1.6 %

Shares of ACN opened at $397.92 on Thursday. The stock has a market cap of $249.01 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 3.43 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. The company has a 50-day moving average price of $360.63 and a two-hundred day moving average price of $351.08.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.27 earnings per share. Equities analysts predict that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio is 49.66%.

Insiders Place Their Bets

In other news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the completion of the transaction, the general counsel now owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,255 shares of company stock worth $4,756,101 over the last quarter. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on ACN shares. JPMorgan Chase & Co. increased their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. BMO Capital Markets increased 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. Jefferies Financial Group cut their target price on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Finally, Piper Sandler increased their target price on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

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.