Accenture plc (NYSE:ACN) Position Decreased by Hedeker Wealth LLC

Hedeker Wealth LLC trimmed its position in Accenture plc (NYSE:ACN) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,909 shares of the information technology services provider’s stock after selling 230 shares during the period. Hedeker Wealth LLC’s holdings in Accenture were worth $4,541,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after buying an additional 471,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Accenture by 378.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after buying an additional 4,345,039 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Accenture by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock worth $1,705,100,000 after purchasing an additional 56,937 shares during the period. Swedbank AB boosted its holdings in shares of Accenture by 47.5% during the fourth quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock worth $1,324,029,000 after purchasing an additional 1,212,011 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Accenture by 1.5% during the third quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock worth $668,974,000 after purchasing an additional 28,491 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on ACN shares. JPMorgan Chase & Co. raised their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. UBS Group raised their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $387.22.

Insider Activity at Accenture

In other news, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated 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 directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock worth $8,316,190. 0.02% of the stock is owned by company insiders.

Accenture Stock Performance

Shares of NYSE:ACN opened at $386.71 on Friday. The stock has a market capitalization of $242.00 billion, a P/E ratio of 32.44, a P/E/G ratio of 3.43 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $361.34 and a two-hundred day moving average price of $351.40.

Accenture (NYSE:ACN) last announced its quarterly 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. The company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.27 EPS. Equities analysts predict that Accenture plc will post 12.69 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.53%. Accenture’s dividend payout ratio is presently 49.66%.

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.