Opes Wealth Management LLC Acquires New Holdings in Accenture plc (NYSE:ACN)

Opes Wealth Management LLC purchased a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 584 shares of the information technology services provider’s stock, valued at approximately $205,000.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc acquired a new stake in shares of Accenture during the 3rd quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Accenture during the 3rd quarter worth about $30,000. POM Investment Strategies LLC boosted its stake in shares of Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Accenture during the 4th quarter worth about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings 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 during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACN. StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. BMO Capital Markets increased their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Morgan Stanley raised their price target on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. UBS Group raised their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $387.22.

Accenture Stock Down 0.4 %

ACN stock opened at $387.99 on Friday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. 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 company has a market capitalization of $242.80 billion, a P/E ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. The firm has a 50 day simple moving average of $365.29 and a 200-day simple moving average of $354.11.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the company earned $3.27 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, January 16th were paid a dividend of $1.48 per share. The ex-dividend date was Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.53%. Accenture’s payout ratio is 49.66%.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the business’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 completion of the sale, the chief accounting officer now owns 8,915 shares in the company, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,497 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction of $885,136.56. Following the sale, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,280 shares of company stock worth $8,316,190 over the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture 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.