Heritage Wealth Management Inc. CA Buys 331 Shares of Accenture plc (NYSE:ACN)

Heritage Wealth Management Inc. CA boosted its position in Accenture plc (NYSE:ACN) by 96.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 674 shares of the information technology services provider’s stock after buying an additional 331 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in Accenture were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in Accenture during the third quarter worth about $25,000. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture in the 4th quarter valued at approximately $30,000. POM Investment Strategies LLC raised its holdings 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 acquiring an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture during the fourth quarter worth $34,000. 75.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on Accenture from $425.00 to $370.00 and set a “market perform” rating on the stock in a report on Tuesday, March 18th. 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. Jefferies Financial Group decreased their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price target for the company in a report on Wednesday, January 8th. Finally, UBS Group decreased their price target on shares of Accenture from $455.00 to $387.00 and set a “buy” rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Accenture has a consensus rating of “Moderate Buy” and an average target price of $378.91.

Accenture Trading Up 0.6 %

NYSE ACN opened at $307.24 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The stock has a 50-day moving average of $358.32 and a 200-day moving average of $357.10. The firm has a market cap of $192.27 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.77 EPS. As a group, sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.93%. Accenture’s dividend payout ratio is currently 48.89%.

Insider Buying and Selling at Accenture

In related news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the sale, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,905 shares of company stock valued at $8,181,753. 0.02% of the stock is currently owned by company insiders.

Accenture Company 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.