Annex Advisory Services LLC Has $273,000 Position in Accenture plc (NYSE:ACN)

Annex Advisory Services LLC reduced its holdings in shares of Accenture plc (NYSE:ACNFree Report) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 777 shares of the information technology services provider’s stock after selling 109 shares during the period. Annex Advisory Services LLC’s holdings in Accenture were worth $273,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Grove Bank & Trust grew its holdings in Accenture by 2.8% during the 4th quarter. Grove Bank & Trust now owns 10,303 shares of the information technology services provider’s stock worth $3,624,000 after acquiring an additional 279 shares during the period. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Accenture in the 4th quarter valued at about $559,000. Artemis Investment Management LLP grew its stake in shares of Accenture by 21.4% in the 4th quarter. Artemis Investment Management LLP now owns 9,242 shares of the information technology services provider’s stock valued at $3,251,000 after buying an additional 1,630 shares during the period. Kelly Financial Services LLC grew its stake in shares of Accenture by 8.1% in the 4th quarter. Kelly Financial Services LLC now owns 812 shares of the information technology services provider’s stock valued at $286,000 after buying an additional 61 shares during the period. Finally, Clarius Group LLC grew its stake in shares of Accenture by 4.0% in the 4th quarter. Clarius Group LLC now owns 5,576 shares of the information technology services provider’s stock valued at $1,962,000 after buying an additional 214 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 2,497 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the transaction, the chief executive officer now directly owns 28,866 shares in the company, valued at approximately $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Beatty sold 961 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the transaction, the insider now owns 5,484 shares of the company’s stock, valued at $1,943,913.48. This trade represents a 14.91 % 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 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ACN shares. JPMorgan Chase & Co. raised their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Jefferies Financial Group cut their price target on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday. Guggenheim lifted their price target on Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, September 27th. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and lifted their price target for the company from $321.00 to $400.00 in a research note on Monday, September 30th. Finally, Barclays lifted their price target on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $383.74.

View Our Latest Research Report on Accenture

Accenture Trading Up 1.1 %

Shares of ACN stock opened at $356.31 on Wednesday. The company’s fifty day simple moving average is $357.49 and its two-hundred day simple moving average is $346.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock has a market capitalization of $222.98 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 3.14 and a beta of 1.24.

Accenture (NYSE:ACNGet Free Report) last issued its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. The business had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.27 EPS. As a group, analysts anticipate that Accenture plc will post 12.69 earnings per share for the current year.

Accenture declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.66%. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Accenture Company 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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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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