Summit Trail Advisors LLC Buys 3,572 Shares of Accenture plc (NYSE:ACN)

Summit Trail Advisors LLC lifted its holdings in Accenture plc (NYSE:ACN) by 57.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,754 shares of the information technology services provider’s stock after acquiring an additional 3,572 shares during the period. Summit Trail Advisors LLC’s holdings in Accenture were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ACN. Masso Torrence Wealth Management Inc. boosted its stake in Accenture by 2.0% during 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 purchasing an additional 28 shares during the last quarter. BSW Wealth Partners boosted its stake 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 buying an additional 28 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Accenture by 5.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after purchasing an additional 28 shares during the period. Slow Capital Inc. lifted its holdings in Accenture by 0.3% during the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock valued at $3,205,000 after purchasing an additional 29 shares during the last quarter. Finally, Tradition Wealth Management LLC lifted its holdings in Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after purchasing an additional 29 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 375 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

NYSE ACN opened at $386.72 on Tuesday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $242.00 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The stock’s fifty day moving average is $362.30 and its two-hundred day moving average is $352.34.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) 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 firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the business earned $3.27 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given 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 dividend yield of 1.53%. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Analyst Ratings Changes

ACN has been the topic of several recent research reports. BMO Capital Markets upped their price objective on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective on the stock. in a research report on Wednesday, October 30th. Finally, UBS Group increased their price target 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. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.22.

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.