Dynamic Advisor Solutions LLC Cuts Stake in Accenture plc (NYSE:ACN)

Dynamic Advisor Solutions LLC lowered its stake in shares of Accenture plc (NYSE:ACN) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,857 shares of the information technology services provider’s stock after selling 815 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Accenture were worth $7,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new stake in Accenture during the 3rd quarter worth approximately $30,000. Retirement Wealth Solutions LLC acquired a new position in Accenture in the 4th quarter valued at $34,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after acquiring an additional 85 shares during the last quarter. Finally, Berbice Capital Management LLC acquired a new position in Accenture during the fourth quarter worth $35,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACN. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a research note on Wednesday, January 8th. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a research report on Tuesday, December 3rd. Guggenheim lifted their price target on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. The Goldman Sachs Group upgraded 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 report on Friday, December 6th. Finally, Piper Sandler lifted their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average price target of $383.74.

Insider Buying and Selling

In related news, CEO Julie Spellman Sweet sold 8,136 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $362.07, for a total value of $2,945,801.52. Following the sale, the chief executive officer now owns 12,188 shares of the company’s stock, valued at $4,412,909.16. This trade represents a 40.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,332 shares of company stock worth $6,172,719. 0.02% of the stock is currently owned by corporate insiders.

Accenture Stock Performance

Shares of ACN stock opened at $362.65 on Friday. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a market cap of $226.94 billion, a PE ratio of 30.42, a P/E/G ratio of 3.20 and a beta of 1.24. The stock has a fifty day moving average price of $357.37 and a 200 day moving average price of $347.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

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

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.63%. Accenture’s dividend payout ratio is currently 49.66%.

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.