MassMutual Private Wealth & Trust FSB Sells 2,233 Shares of Accenture plc (NYSE:ACN)

MassMutual Private Wealth & Trust FSB decreased its stake in shares of Accenture plc (NYSE:ACNFree Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,457 shares of the information technology services provider’s stock after selling 2,233 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Accenture were worth $19,509,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new stake in Accenture during the third quarter valued at $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the 3rd quarter worth approximately $30,000. Retirement Wealth Solutions LLC bought a new stake in Accenture during the fourth quarter valued at approximately $34,000. Mowery & Schoenfeld Wealth Management LLC raised its position in Accenture by 607.1% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Accenture in the 3rd quarter worth $39,000. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryoji Sekido sold 3,191 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $343.70, for a total value of $1,096,746.70. Following the completion of the sale, the chief executive officer now owns 6 shares in the company, valued at $2,062.20. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,125 shares of company stock worth $6,184,820 in the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture Trading Up 0.5 %

NYSE ACN opened at $352.33 on Monday. The company has a 50 day moving average price of $357.59 and a 200 day moving average price of $345.65. The firm has a market cap of $220.49 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 3.11 and a beta of 1.24. 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 $278.69 and a 52 week high of $387.51.

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

Accenture announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler boosted 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. Guggenheim lifted their target price on shares of Accenture from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target on the stock in a report on Wednesday, January 8th. Bank of America lifted their target price on Accenture from $365.00 to $388.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Accenture has an average rating of “Moderate Buy” and an average price target of $385.04.

Get Our Latest Analysis on ACN

About Accenture

(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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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