Modern Wealth Management LLC Has $1.32 Million Stake in Accenture plc (NYSE:ACN)

Modern Wealth Management LLC boosted its position in Accenture plc (NYSE:ACN) by 137.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,415 shares of the information technology services provider’s stock after purchasing an additional 1,977 shares during the quarter. Modern Wealth Management LLC’s holdings in Accenture were worth $1,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Larson Financial Group LLC grew its stake in shares of Accenture by 17.6% in the third quarter. Larson Financial Group LLC now owns 1,114 shares of the information technology services provider’s stock valued at $394,000 after acquiring an additional 167 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Accenture by 12.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 11,538 shares of the information technology services provider’s stock worth $4,078,000 after purchasing an additional 1,267 shares in the last quarter. Associated Banc Corp increased its holdings in shares of Accenture by 6.7% during the third quarter. Associated Banc Corp now owns 1,180 shares of the information technology services provider’s stock worth $417,000 after purchasing an additional 74 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of Accenture in the third quarter valued at approximately $1,597,000. Finally, D.A. Davidson & CO. grew its position in Accenture by 2.6% during the third quarter. D.A. Davidson & CO. now owns 108,018 shares of the information technology services provider’s stock worth $38,182,000 after buying an additional 2,742 shares in the last quarter. 75.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACN has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their target price on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Barclays reduced their price objective on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research note on Monday. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their target price for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Stifel Nicolaus decreased their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Eight investment 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.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.91.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 961 shares of Accenture stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $354.47, for a total value of $340,645.67. Following the completion of the transaction, the insider now directly owns 5,484 shares of the company’s stock, valued at approximately $1,943,913.48. This trade represents a 14.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Melissa A. Burgum sold 232 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by company insiders.

Accenture Trading Up 0.6 %

ACN opened at $308.97 on Wednesday. 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 fifty-two week low of $278.69 and a fifty-two week high of $398.35. The company’s 50 day moving average price is $357.53 and its two-hundred day moving average price is $356.88. The firm has a market capitalization of $193.35 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.77 earnings per share. As a group, research analysts predict that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s payout ratio is presently 48.89%.

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.