Quotient Wealth Partners LLC Lowers Stock Holdings in Accenture plc (NYSE:ACN)

Quotient Wealth Partners LLC decreased its position in Accenture plc (NYSE:ACN) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,852 shares of the information technology services provider’s stock after selling 232 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Accenture were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Baldwin Wealth Partners LLC MA boosted its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after buying an additional 3,883 shares during the period. Schrum Private Wealth Management LLC boosted its holdings in Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after acquiring an additional 5,038 shares during the period. MQS Management LLC purchased a new position in Accenture in the 3rd quarter worth approximately $1,040,000. Concurrent Investment Advisors LLC boosted its stake in shares of Accenture by 70.6% during 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 purchasing an additional 14,724 shares during the period. Finally, M&G PLC increased its stake in shares of Accenture by 34.1% in 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 period. 75.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Accenture from $335.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Jefferies Financial Group cut their price target 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. 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. Robert W. Baird restated a “neutral” rating and issued a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. Finally, StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.22.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of the business’s stock in a transaction that occurred on 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 $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the sale, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,280 shares of company stock valued at $8,316,190. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Down 0.3 %

Shares of ACN stock opened at $386.04 on Friday. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $362.30 and its two-hundred day simple moving average is $352.03. The stock has a market cap of $241.58 billion, a P/E ratio of 32.39, a PEG ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the business earned $3.27 earnings per share. Accenture’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company 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 dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

About Accenture

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.