RMR Wealth Builders Buys 203 Shares of Accenture plc (NYSE:ACN)

RMR Wealth Builders increased its stake in shares of Accenture plc (NYSE:ACN) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,437 shares of the information technology services provider’s stock after purchasing an additional 203 shares during the period. RMR Wealth Builders’ holdings in Accenture were worth $1,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Masso Torrence Wealth Management Inc. grew its holdings in shares of Accenture by 2.0% in the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after purchasing an additional 28 shares during the last quarter. BSW Wealth Partners increased its position in shares of Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after acquiring an additional 28 shares during the period. Slow Capital Inc. raised its position in shares of Accenture by 0.3% in the 3rd quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock worth $3,205,000 after acquiring an additional 29 shares in the last quarter. Tradition Wealth Management LLC boosted its position 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 in the last quarter. Finally, NBC Securities Inc. raised its holdings in Accenture by 0.6% in the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ACN shares. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Royal Bank of Canada raised their target price on Accenture from $377.00 to $389.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and boosted their price target for the company from $321.00 to $400.00 in a research note on Monday, September 30th. Finally, StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $385.04.

Accenture Stock Up 0.1 %

ACN opened at $349.45 on Thursday. Accenture plc has a twelve month low of $278.69 and a twelve month high of $387.51. The company has a market cap of $218.68 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. The company has a 50-day moving average price of $357.98 and a 200 day moving average price of $344.94.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to analyst estimates of $17.15 billion. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.27 earnings per share. As a group, sell-side analysts expect that Accenture plc will post 12.74 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be issued 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 1.69%. Accenture’s dividend payout ratio is presently 49.66%.

Accenture declared that its board has approved a stock repurchase program on Thursday, September 26th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Accenture

In other news, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the transaction, the chief executive officer now owns 6 shares of the company’s stock, valued at approximately $2,062.20. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, 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. Over the last quarter, insiders sold 26,125 shares of company stock valued at $9,570,260. 0.02% of the stock is owned by company insiders.

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.