Tectonic Advisors LLC Sells 157 Shares of Accenture plc (NYSE:ACN)

Tectonic Advisors LLC decreased its position in shares of Accenture plc (NYSE:ACN) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,078 shares of the information technology services provider’s stock after selling 157 shares during the quarter. Tectonic Advisors LLC’s holdings in Accenture were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. raised its stake in shares of Accenture by 15.8% in the fourth quarter. Confluence Wealth Services Inc. now owns 4,009 shares of the information technology services provider’s stock worth $1,456,000 after purchasing an additional 547 shares during the last quarter. Country Club Bank raised its position in Accenture by 1.3% in the 4th quarter. Country Club Bank now owns 3,770 shares of the information technology services provider’s stock worth $1,329,000 after buying an additional 50 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Accenture by 38.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,678 shares of the information technology services provider’s stock valued at $19,156,000 after acquiring an additional 15,821 shares during the period. Groesbeck Investment Management Corp NJ bought a new stake in shares of Accenture in the fourth quarter worth approximately $294,000. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Accenture by 0.7% during the fourth quarter. Stratos Wealth Advisors LLC now owns 35,575 shares of the information technology services provider’s stock valued at $12,515,000 after purchasing an additional 257 shares during the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACN has been the subject of a number of research analyst reports. BNP Paribas downgraded shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. UBS Group lifted their price objective on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a report on Monday, January 13th. 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. Finally, BMO Capital Markets raised their price objective on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.22.

Accenture Trading Up 1.6 %

ACN stock opened at $397.92 on Thursday. The company has a market capitalization of $249.01 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 3.43 and a beta of 1.24. 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 1-year low of $278.69 and a 1-year high of $398.35. The business has a 50 day simple moving average of $360.63 and a two-hundred day simple moving average of $351.08.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period in the previous year, the firm posted $3.27 EPS. Accenture’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts anticipate that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio is presently 49.66%.

Insiders Place Their Bets

In other Accenture news, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value of $1,723,205.00. Following the completion of the transaction, the general counsel now directly owns 20,526 shares of the company’s stock, valued at $7,446,422.28. This trade represents a 18.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $361.09, for a total transaction of $902,725.00. Following the sale, the chief operating officer now owns 19,737 shares in the company, valued at $7,126,833.33. This represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,255 shares of company stock valued at $4,756,101 in the last quarter. 0.02% of the stock is currently owned by 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.