Broadway Wealth Solutions Inc. Purchases Shares of 895 Accenture plc (NYSE:ACN)

Broadway Wealth Solutions Inc. acquired a new stake in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 895 shares of the information technology services provider’s stock, valued at approximately $315,000.

A number of other institutional investors also recently bought and sold shares of ACN. Morse Asset Management Inc purchased a new stake in shares of Accenture during the third quarter valued at $25,000. FPC Investment Advisory Inc. lifted its holdings in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Accenture in the fourth quarter valued at approximately $30,000. POM Investment Strategies LLC raised its position in 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 buying an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in Accenture during the 4th quarter valued at approximately $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Morgan Stanley decreased their price target on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. Royal Bank of Canada cut their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Finally, BMO Capital Markets increased their price target on shares of Accenture to $355.00 and gave the stock a “hold” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.23.

Insider Transactions at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction 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 approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Down 0.9 %

Shares of NYSE:ACN opened at $308.51 on Friday. The company has a market cap of $193.06 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm’s 50-day simple moving average is $355.92 and its 200-day simple moving average is $356.23. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same quarter in the prior year, the company earned $2.77 earnings per share. Accenture’s revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.92%. Accenture’s payout ratio is currently 48.89%.

About Accenture

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.