Summit Trail Advisors LLC Increases Stock Position in Accenture plc (NYSE:ACN)

Summit Trail Advisors LLC raised its stake in shares of Accenture plc (NYSE:ACN) by 57.8% during the fourth quarter, HoldingsChannel reports. The fund owned 9,754 shares of the information technology services provider’s stock after acquiring an additional 3,572 shares during the quarter. Summit Trail Advisors LLC’s holdings in Accenture were worth $3,432,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ACN. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new position in Accenture during the 3rd quarter valued at about $30,000. POM Investment Strategies LLC increased its stake in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Accenture during the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in Accenture by 607.1% during 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 buying an additional 85 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now directly owns 8,674 shares of the company’s stock, valued at approximately $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.2 %

Shares of ACN stock opened at $386.72 on Tuesday. Accenture plc has a 12-month low of $278.69 and a 12-month high of $398.35. The company has a market capitalization of $242.00 billion, a P/E ratio of 32.44, a P/E/G ratio of 3.44 and a beta of 1.24. The firm has a 50-day moving average price of $362.30 and a 200 day moving average price of $352.34. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

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 the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion during the quarter, compared to the consensus estimate of $17.15 billion. During the same period last year, the firm posted $3.27 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACN. BNP Paribas lowered shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price objective for the company. in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 8th. UBS Group raised their target price on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, StockNews.com upgraded shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average price target of $387.22.

Accenture 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.