Pines Wealth Management LLC acquired a new position in Accenture plc (NYSE:ACN – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,079 shares of the information technology services provider’s stock, valued at approximately $377,000.
Other large investors also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter worth approximately $25,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Accenture during the third quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Accenture by 607.1% in 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. RPg Family Wealth Advisory LLC purchased a new position in Accenture in the 3rd quarter worth approximately $39,000. Finally, Reston Wealth Management LLC purchased a new position in Accenture during the third quarter worth approximately $51,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.
Accenture Trading Up 0.1 %
Accenture stock opened at $349.45 on Thursday. The firm has a market capitalization of $218.68 billion, a P/E ratio of 30.57, a P/E/G ratio of 3.23 and a beta of 1.24. The stock’s fifty day simple moving average is $357.98 and its 200-day simple moving average is $344.94. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51.
Accenture Dividend Announcement
The company also recently disclosed 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. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio is presently 49.66%.
Accenture declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Guggenheim boosted their price target on shares of Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Mizuho increased their price target on shares of Accenture from $352.00 to $365.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Bank of America lifted their price target on shares of Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Robert W. Baird restated a “neutral” rating and issued a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Piper Sandler increased their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $385.04.
Read Our Latest Analysis on ACN
Insider Activity
In other news, CEO Julie Spellman Sweet sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 20,324 shares of the company’s stock, valued at approximately $7,645,075.84. This trade represents a 30.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s 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 directly owns 5,149 shares of the company’s stock, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,125 shares of company stock worth $9,570,260. 0.02% of the stock is currently owned by corporate insiders.
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.
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