Angeles Wealth Management LLC Increases Position in Accenture plc (NYSE:ACN)

Angeles Wealth Management LLC boosted its stake in Accenture plc (NYSE:ACN) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,135 shares of the information technology services provider’s stock after acquiring an additional 230 shares during the period. Angeles Wealth Management LLC’s holdings in Accenture were worth $1,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACN. Baldwin Wealth Partners LLC MA lifted 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 period. Schrum Private Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 5,038 shares during the period. MQS Management LLC purchased a new stake in shares of Accenture in the third quarter valued at about $1,040,000. Concurrent Investment Advisors LLC raised its holdings in Accenture by 70.6% during the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after purchasing an additional 14,724 shares in the last quarter. Finally, M&G PLC boosted its holdings in Accenture by 34.1% in the 3rd quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after purchasing an additional 74,438 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Price Performance

ACN stock opened at $386.04 on Monday. The stock has a 50-day moving average price of $362.30 and a two-hundred day moving average price of $352.18. The company has a market cap of $241.58 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 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 business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter last year, the firm posted $3.27 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.53%. Accenture’s dividend payout ratio is currently 49.66%.

Analyst Ratings Changes

Several analysts have recently commented on ACN shares. UBS Group raised their price target on Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. StockNews.com raised Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley lifted their price target on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity

In other news, 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. This represents a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the sale, the insider now owns 5,149 shares in the company, valued at $1,845,916.50. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

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.