Capital Asset Advisory Services LLC Acquires 322 Shares of Accenture plc (NYSE:ACN)

Capital Asset Advisory Services LLC lifted its holdings in Accenture plc (NYSE:ACN) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,001 shares of the information technology services provider’s stock after buying an additional 322 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Accenture were worth $4,246,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new position in Accenture during the third quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in Accenture during the third quarter valued at approximately $30,000. Retirement Wealth Solutions LLC bought a new position in Accenture during the fourth quarter valued at approximately $34,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the last quarter. Finally, Berbice Capital Management LLC bought a new position in Accenture during the fourth quarter valued at approximately $35,000. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In related news, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the transaction, the chief executive officer now directly owns 6 shares in the company, valued at $2,062.20. The trade was a 99.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,196 shares of company stock valued at $3,226,918. Corporate insiders own 0.02% of the company’s stock.

Accenture Trading Down 0.2 %

Shares of NYSE ACN opened at $362.65 on Monday. 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 simple moving average of $357.37 and a two-hundred day simple moving average of $347.64. The firm has a market cap of $226.94 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 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 analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 EPS. Analysts expect that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ACN. Barclays increased their price target on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. BMO Capital Markets lifted their target price on Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $383.74.

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.