Cyndeo Wealth Partners LLC Buys 713 Shares of Accenture plc (NYSE:ACN)

Cyndeo Wealth Partners LLC raised its holdings in Accenture plc (NYSE:ACN) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,318 shares of the information technology services provider’s stock after buying an additional 713 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Accenture were worth $9,962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Accenture by 1.8% in the 3rd 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 last quarter. Legal & General Group Plc increased its stake in shares of Accenture by 1.4% during the second quarter. Legal & General Group Plc now owns 5,887,266 shares of the information technology services provider’s stock worth $1,786,256,000 after purchasing an additional 80,514 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Accenture by 378.9% during the 3rd 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 worth $1,941,219,000 after purchasing an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Accenture by 1.2% in the 3rd 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 purchasing an additional 56,937 shares during the period. Finally, Clearbridge Investments LLC increased its position in Accenture by 44.7% during the 2nd quarter. Clearbridge Investments LLC now owns 2,709,989 shares of the information technology services provider’s stock worth $822,238,000 after buying an additional 837,677 shares during the period. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Accenture

In other news, CEO Ryoji Sekido sold 3,191 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the completion of the sale, the chief executive officer now directly owns 6 shares in the company, valued at $2,062.20. This represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,332 shares of company stock worth $6,172,719. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $362.65 on Friday. The stock’s 50-day moving average is $357.37 and its 200-day moving average is $347.30. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51. 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 has a market cap of $226.94 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its 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. The firm 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%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.27 EPS. Equities research analysts anticipate that Accenture plc will post 12.69 earnings per share for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued 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 payout ratio is presently 49.66%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACN. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. 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. The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. UBS Group raised their price target on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $383.74.

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.