Tyche Wealth Partners LLC Purchases 2,696 Shares of Accenture plc (NYSE:ACN)

Tyche Wealth Partners LLC boosted its position in Accenture plc (NYSE:ACN) by 95.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,529 shares of the information technology services provider’s stock after acquiring an additional 2,696 shares during the period. Tyche Wealth Partners LLC’s holdings in Accenture were worth $1,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACN. Masso Torrence Wealth Management Inc. lifted its holdings in shares of 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 acquiring an additional 28 shares during the last quarter. BSW Wealth Partners lifted its holdings 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 valued at $1,441,000 after acquiring an additional 28 shares during the last quarter. Slow Capital Inc. lifted its holdings 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 valued at $3,205,000 after acquiring an additional 29 shares during the last quarter. Tradition Wealth Management LLC raised its position in 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. raised its position in Accenture by 0.6% in the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after purchasing an additional 30 shares during the period. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE:ACN opened at $397.92 on Thursday. The firm has a 50 day simple moving average of $360.63 and a 200-day simple moving average of $351.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $249.01 billion, a PE ratio of 33.38, a P/E/G ratio of 3.43 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last released its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the firm earned $3.27 earnings per share. Accenture’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.49%. Accenture’s dividend payout ratio is currently 49.66%.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 375 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the completion of the transaction, the general counsel now owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This represents a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,255 shares of company stock worth $4,756,101 over the last ninety days. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACN shares. UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Morgan Stanley raised their target price on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Piper Sandler raised their target price on shares of Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. Finally, Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $387.22.

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.