Ullmann Wealth Partners Group LLC Purchases Shares of 670 Accenture plc (NYSE:ACN)

Ullmann Wealth Partners Group LLC acquired a new position in shares of Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 670 shares of the information technology services provider’s stock, valued at approximately $236,000.

Other hedge funds also recently bought and sold shares of the company. Masso Torrence Wealth Management Inc. raised its stake in Accenture by 2.0% in the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock valued at $511,000 after purchasing an additional 28 shares during the last quarter. BSW Wealth Partners raised its stake in Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares during the period. Slow Capital Inc. grew its position in Accenture by 0.3% during the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after acquiring an additional 29 shares during the period. Tradition Wealth Management LLC increased its stake in Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after acquiring an additional 29 shares during the last quarter. Finally, NBC Securities Inc. lifted its stake in shares of Accenture by 0.6% in the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock valued at $1,840,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN opened at $350.92 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $357.85 and its two-hundred day moving average is $344.97. The firm has a market capitalization of $219.60 billion, a P/E ratio of 29.44, a PEG ratio of 3.11 and a beta of 1.24. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings results 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. The company had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company earned $3.27 earnings per share. Analysts anticipate that Accenture plc will post 12.69 earnings per share for the current year.

Accenture announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the information technology services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 dividend on an annualized basis and a yield of 1.69%. Accenture’s dividend payout ratio (DPR) is 49.66%.

Insider Buying and Selling at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of Accenture 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 directly owns 20,324 shares in the company, valued at approximately $7,645,075.84. This trade represents a 30.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,125 shares of company stock valued at $9,570,260. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACN shares. Barclays lifted their price target on shares of Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Piper Sandler boosted their price objective on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Bank of America increased their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and an average price target of $385.04.

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.