Connecticut Wealth Management LLC Buys 176 Shares of Accenture plc (NYSE:ACN)

by · The Cerbat Gem

Connecticut Wealth Management LLC increased its stake in Accenture plc (NYSE:ACN – Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,050 shares of the information technology services provider’s stock after buying an additional 176 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Accenture were worth $2,832,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Visionary Wealth Advisors lifted its position in Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after buying an additional 26 shares during the last quarter. Vivaldi Capital Management LP grew its holdings in shares of Accenture by 3.6% in the fourth quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after purchasing an additional 27 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Accenture by 5.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after purchasing an additional 28 shares during the last quarter. FPC Investment Advisory Inc. grew its holdings in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. Finally, New England Professional Planning Group Inc. grew its holdings in shares of Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after purchasing an additional 29 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 0.7%

Accenture stock opened at $317.98 on Thursday. 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 plc has a 52 week low of $275.01 and a 52 week high of $398.35. The company has a market capitalization of $199.16 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. The stock has a 50-day moving average price of $302.56 and a 200 day moving average price of $340.66.

Accenture (NYSE:ACN – Get Free Report) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same quarter in the previous year, the company posted $2.77 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler cut their price target on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley decreased their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a report on Monday, March 17th. Stifel Nicolaus decreased their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price objective on Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average price target of $381.76.

View Our Latest Report on ACN

Insider Activity

In other news, COO John F. Walsh sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the transaction, the chief operating officer now directly owns 15,882 shares of the company’s stock, valued at $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 169 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock valued at $2,507,366 in the last three months. 0.02% of the stock is currently owned by corporate insiders.

Accenture Profile

(Free Report)

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.

See Also

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