Drive Wealth Management LLC Sells 38 Shares of Accenture plc (NYSE:ACN)

Drive Wealth Management LLC decreased its holdings in Accenture plc (NYSE:ACN) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,308 shares of the information technology services provider’s stock after selling 38 shares during the period. Accenture comprises approximately 0.7% of Drive Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Drive Wealth Management LLC’s holdings in Accenture were worth $2,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Masso Torrence Wealth Management Inc. boosted its position in Accenture by 2.0% in the 3rd quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock valued at $511,000 after buying an additional 28 shares during the period. BSW Wealth Partners lifted its position in shares of Accenture by 0.7% in the 3rd quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after purchasing an additional 28 shares during the period. Slow Capital Inc. lifted its position in shares of Accenture by 0.3% in the 3rd quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock worth $3,205,000 after purchasing an additional 29 shares during the period. Tradition Wealth Management LLC lifted its position in shares of Accenture by 0.3% in the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after purchasing an additional 29 shares during the period. Finally, NBC Securities Inc. lifted its position in Accenture by 0.6% during the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock valued at $1,840,000 after acquiring an additional 30 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Insider Activity 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 completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This trade represents a 13.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the transaction, the chief executive officer now directly owns 6 shares of the company’s stock, valued at $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,196 shares of company stock valued at $3,226,918 in the last three months. 0.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ACN shares. UBS Group increased their target price on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Robert W. Baird restated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research note on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $383.74.

Accenture Price Performance

ACN stock opened at $362.65 on Monday. The business’s fifty day moving average price is $357.37 and its 200 day moving average price is $347.64. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12-month low of $278.69 and a 12-month high of $387.51. The company has a market capitalization of $226.94 billion, a PE ratio of 30.42, a P/E/G ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping 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 company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the prior year, the business earned $3.27 EPS. Accenture’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts anticipate that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.63%. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

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.