Jmac Enterprises LLC Raises Stock Position in Accenture plc (NYSE:ACN)

Jmac Enterprises LLC raised its holdings in Accenture plc (NYSE:ACN) by 10.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,379 shares of the information technology services provider’s stock after acquiring an additional 219 shares during the period. Jmac Enterprises LLC’s holdings in Accenture were worth $837,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. CX Institutional boosted its holdings in Accenture by 432.8% during the third quarter. CX Institutional now owns 18,840 shares of the information technology services provider’s stock worth $6,660,000 after buying an additional 15,304 shares in the last quarter. Creative Planning boosted its stake in shares of Accenture by 5.5% during the 3rd quarter. Creative Planning now owns 247,724 shares of the information technology services provider’s stock worth $87,566,000 after acquiring an additional 12,993 shares in the last quarter. NBC Securities Inc. grew its position in shares of Accenture by 0.6% during the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock valued at $1,840,000 after acquiring an additional 30 shares during the period. Birch Capital Management LLC raised its holdings in Accenture by 5.2% in the 3rd quarter. Birch Capital Management LLC now owns 18,226 shares of the information technology services provider’s stock worth $6,443,000 after purchasing an additional 900 shares during the period. Finally, Swedbank AB boosted its position in Accenture by 16.6% during the third quarter. Swedbank AB now owns 2,551,679 shares of the information technology services provider’s stock worth $901,967,000 after purchasing an additional 363,401 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACN shares. BMO Capital Markets increased their target price on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their price objective on shares of Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, December 16th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a research note on Wednesday, October 30th. Piper Sandler raised their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group cut their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $387.22.

Accenture Stock Performance

Accenture stock opened at $390.21 on Wednesday. The stock has a market cap of $244.19 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a 50 day simple moving average of $362.81 and a 200-day simple moving average of $352.74. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35.

Accenture (NYSE:ACN) last posted its 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 company had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.27 earnings per share. On average, analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio is presently 49.66%.

Insider Activity

In related news, CAO Melissa A. Burgum sold 1,487 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction dated 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 of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

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.