Quent Capital LLC Has $1.02 Million Stock Position in Accenture plc (NYSE:ACN)

Quent Capital LLC grew its stake in Accenture plc (NYSE:ACN) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,900 shares of the information technology services provider’s stock after buying an additional 101 shares during the quarter. Quent Capital LLC’s holdings in Accenture were worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc bought a new position in Accenture during the 3rd quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture during the third quarter worth about $30,000. POM Investment Strategies LLC lifted its stake in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter worth approximately $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Wolfe Research upgraded 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. boosted their price target on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Performance

Shares of NYSE ACN opened at $390.21 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $244.19 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 3.44 and a beta of 1.24. The stock’s fifty day moving average price is $362.81 and its two-hundred day moving average price is $352.74. Accenture plc has a one year low of $278.69 and a one year high of $398.35.

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 analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $3.27 earnings per share. On average, equities analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio is currently 49.66%.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now owns 5,149 shares of the company’s stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 in the last 90 days. Company insiders own 0.02% of the company’s stock.

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.