Barlow Wealth Partners Inc. Has $18.28 Million Stock Position in Accenture plc (NYSE:ACN)

22 Jan 2025, 09:44 by Scott Moore · The Cerbat Gem

Barlow Wealth Partners Inc. grew its holdings in Accenture plc (NYSE:ACN – Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,280 shares of the information technology services provider’s stock after purchasing an additional 1,842 shares during the period. Accenture makes up about 2.3% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 14th biggest position. Barlow Wealth Partners Inc.’s holdings in Accenture were worth $18,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ACN. Schrum Private Wealth Management LLC lifted its holdings in shares of Accenture by 78.6% in the third 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 last quarter. MQS Management LLC acquired a new position in Accenture during the 3rd quarter worth approximately $1,040,000. Concurrent Investment Advisors LLC boosted its position in Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares in the last quarter. M&G PLC grew its stake in shares of Accenture by 34.1% during the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock worth $103,361,000 after buying an additional 74,438 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Accenture by 18.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock valued at $52,247,000 after acquiring an additional 27,168 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Price Performance

Shares of NYSE ACN opened at $356.31 on Wednesday. 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 firm’s 50-day moving average price is $357.49 and its 200-day moving average price is $346.26. The firm has a market capitalization of $222.98 billion, a P/E ratio of 29.89, a P/E/G ratio of 3.14 and a beta of 1.24. Accenture plc has a 1-year low of $278.69 and a 1-year high of $387.51.

Accenture (NYSE:ACN – Get Free Report) 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, topping the consensus estimate of $3.43 by $0.16. The business 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 company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 earnings per share. Equities research analysts anticipate that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture declared that its board has authorized a share repurchase plan on Thursday, September 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Accenture Dividend Announcement

The firm also recently disclosed 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 1.66%. The ex-dividend date is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is 49.66%.

Insider Activity

In other Accenture news, CEO Ryoji Sekido sold 3,191 shares of Accenture stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the completion of the transaction, the chief executive officer now owns 6 shares in the company, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,136 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $362.07, for a total value of $2,945,801.52. Following the completion of the sale, the chief executive officer now directly owns 12,188 shares of the company’s stock, valued at approximately $4,412,909.16. This trade represents a 40.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,845 shares of company stock worth $5,645,518 over the last three months. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. 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 report on Wednesday, January 8th. Piper Sandler upped their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. BMO Capital Markets lifted their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, UBS Group boosted their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $383.74.

Check Out Our Latest Stock Report on ACN

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.