Red Door Wealth Management LLC Buys 72 Shares of Accenture plc (NYSE:ACN)

Red Door Wealth Management LLC raised its stake in Accenture plc (NYSE:ACN) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,143 shares of the information technology services provider’s stock after acquiring an additional 72 shares during the quarter. Red Door Wealth Management LLC’s holdings in Accenture were worth $402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock valued at $9,685,648,000 after buying an additional 471,792 shares during the period. Legal & General Group Plc increased its stake in shares of Accenture by 1.4% in the second quarter. Legal & General Group Plc now owns 5,887,266 shares of the information technology services provider’s stock valued at $1,786,256,000 after buying an additional 80,514 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock valued at $1,941,219,000 after buying an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Accenture by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after buying an additional 56,937 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Accenture by 44.7% in the second quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock valued at $822,238,000 after buying an additional 837,677 shares during the period. Institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Julie Spellman Sweet sold 8,136 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $362.07, for a total value of $2,945,801.52. Following the sale, the chief executive officer now directly owns 12,188 shares of the company’s stock, valued at approximately $4,412,909.16. This represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,332 shares of company stock valued at $6,172,719 in the last ninety days. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Cowen raised Accenture from a “hold” rating to a “buy” rating and upped their price objective for the company from $321.00 to $400.00 in a research note on Monday, September 30th. Bank of America increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Robert W. Baird reissued a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their target price on shares of Accenture from $377.00 to $389.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $383.74.

Accenture Price Performance

Shares of NYSE:ACN opened at $362.65 on Friday. 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 stock’s fifty day simple moving average is $357.19 and its two-hundred day simple moving average is $346.86. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. The stock 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 (NYSE:ACN) last issued its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period last year, the business earned $3.27 EPS. The business’s revenue was up 9.0% on a year-over-year basis. As a group, analysts forecast that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.63%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

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.