Accenture plc (NYSE:ACN) Shares Bought by Community Financial Services Group LLC

Community Financial Services Group LLC increased its position in Accenture plc (NYSE:ACN) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,212 shares of the information technology services provider’s stock after buying an additional 117 shares during the period. Community Financial Services Group LLC’s holdings in Accenture were worth $1,834,000 as of its most recent SEC filing.

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

Accenture Stock Up 0.9 %

Shares of Accenture stock opened at $390.21 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $362.81 and a 200 day moving average price of $352.74. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The firm has a market cap of $244.19 billion, a P/E ratio of 32.74, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results 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. The business had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.27 EPS. On average, sell-side analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio is presently 49.66%.

Analyst Ratings Changes

Several research analysts recently weighed in on ACN shares. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research report on Wednesday, October 30th. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. BMO Capital Markets increased their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley upped their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $387.22.

Insider Buying and Selling

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last quarter. 0.02% of the stock is owned by company insiders.

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.