Hemington Wealth Management Buys 50 Shares of Accenture plc (NYSE:ACN)

Hemington Wealth Management grew its stake in Accenture plc (NYSE:ACN) by 10.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 517 shares of the information technology services provider’s stock after buying an additional 50 shares during the quarter. Hemington Wealth Management’s holdings in Accenture were worth $181,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in shares of Accenture in the 3rd quarter valued at $25,000. MidAtlantic Capital Management Inc. bought a new position in Accenture in the 3rd quarter worth approximately $30,000. POM Investment Strategies LLC raised its stake in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Accenture during the 4th quarter valued at about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ACN. Morgan Stanley boosted their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Piper Sandler lifted their price objective on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Wolfe Research raised 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. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Insider Activity

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 value of $134,437.50. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $354.48, for a total transaction 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 $10,232,419.68. The trade was a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,280 shares of company stock worth $8,316,190. Company insiders own 0.02% of the company’s stock.

Accenture Stock Down 0.3 %

Shares of NYSE ACN opened at $388.85 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $363.57 and a two-hundred day simple moving average of $353.18. The firm has a market capitalization of $243.34 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 3.44 and a beta of 1.24. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business posted $3.27 EPS. Equities analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

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

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.