AlphaStar Capital Management LLC Invests $209,000 in Accenture plc (NYSE:ACN)

AlphaStar Capital Management LLC acquired a new stake in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 595 shares of the information technology services provider’s stock, valued at approximately $209,000.

Other large investors have also recently modified their holdings of the company. Baldwin Wealth Partners LLC MA grew its stake in Accenture by 6.5% in the 4th quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares in the last quarter. Schrum Private Wealth Management LLC raised its stake in shares of Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after purchasing an additional 5,038 shares during the period. MQS Management LLC purchased a new stake in Accenture during the 3rd quarter worth about $1,040,000. Concurrent Investment Advisors LLC grew its holdings in Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares in the last quarter. Finally, M&G PLC increased its position in shares of Accenture by 34.1% during the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after buying an additional 74,438 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock opened at $386.04 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The business’s 50 day simple moving average is $362.30 and its two-hundred day simple moving average is $352.18. The stock has a market capitalization of $241.58 billion, a P/E ratio of 32.39, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping the consensus estimate of $3.43 by $0.16. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.27 earnings per share. Analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.53%. Accenture’s dividend payout ratio is presently 49.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. BMO Capital Markets boosted their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. Jefferies Financial Group decreased their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, BNP Paribas downgraded Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock valued at $8,316,190 in the last 90 days. Insiders own 0.02% of the company’s stock.

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.