TD Private Client Wealth LLC Has $5.60 Million Stock Position in Accenture plc (NYSE:ACN)

TD Private Client Wealth LLC lifted its position in Accenture plc (NYSE:ACN) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,903 shares of the information technology services provider’s stock after buying an additional 294 shares during the quarter. TD Private Client Wealth LLC’s holdings in Accenture were worth $5,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Morse Asset Management Inc acquired a new stake in shares of Accenture in the third quarter worth $25,000. FPC Investment Advisory Inc. lifted its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the fourth quarter worth $30,000. POM Investment Strategies LLC lifted its stake in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after buying an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Accenture in the fourth quarter worth $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Accenture Stock Down 7.3 %

ACN opened at $300.86 on Friday. The firm’s 50-day simple moving average is $360.05 and its 200-day simple moving average is $357.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. The firm has a market cap of $188.28 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.97%. Accenture’s dividend payout ratio is currently 49.66%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently commented on ACN. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. BMO Capital Markets cut their target price on shares of Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Jefferies Financial Group cut their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Mizuho cut their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $384.45.

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.