Pinnacle Wealth Management Advisory Group LLC Increases Holdings in Accenture plc (NYSE:ACN)

Pinnacle Wealth Management Advisory Group LLC grew its holdings in Accenture plc (NYSE:ACN) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,995 shares of the information technology services provider’s stock after acquiring an additional 58 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Accenture were worth $1,757,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Baldwin Wealth Partners LLC MA lifted its position in shares of Accenture by 6.5% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after buying an additional 3,883 shares in the last quarter. Schrum Private Wealth Management LLC lifted its position in shares of Accenture by 78.6% in the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Accenture in the third quarter worth about $1,040,000. Concurrent Investment Advisors LLC lifted its position in shares of Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after buying an additional 14,724 shares in the last quarter. Finally, M&G PLC lifted its position 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 in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the sale, the chief executive officer now owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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 represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,280 shares of company stock valued at $8,316,190. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACN shares. JPMorgan Chase & Co. upped their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Accenture in a report on Tuesday, December 3rd. Piper Sandler increased their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. StockNews.com upgraded Accenture from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley raised their target price on Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.22.

Accenture Price Performance

ACN opened at $387.99 on Friday. The company has a fifty day simple moving average of $365.29 and a 200 day simple moving average of $354.11. The firm has a market cap of $242.80 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 3.44 and a beta of 1.24. Accenture plc has a twelve month low of $278.69 and a twelve month high of $398.35. 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 (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping 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 company had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same period last year, the business earned $3.27 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Thursday, January 16th were paid a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, January 16th. 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.