RWA Wealth Partners LLC Acquires 1,941 Shares of Accenture plc (NYSE:ACN)

RWA Wealth Partners LLC lifted its holdings in Accenture plc (NYSE:ACN) by 3.9% in the fourth quarter, HoldingsChannel reports. The fund owned 51,466 shares of the information technology services provider’s stock after buying an additional 1,941 shares during the period. RWA Wealth Partners LLC’s holdings in Accenture were worth $18,105,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Public Sector Pension Investment Board boosted its holdings in Accenture by 12.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 27,296 shares of the information technology services provider’s stock valued at $9,649,000 after acquiring an additional 3,100 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Accenture by 18.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 489,830 shares of the information technology services provider’s stock valued at $173,145,000 after purchasing an additional 74,825 shares during the period. Kolinsky Wealth Management LLC grew its holdings in shares of Accenture by 2.2% in the third quarter. Kolinsky Wealth Management LLC now owns 2,756 shares of the information technology services provider’s stock worth $974,000 after purchasing an additional 59 shares during the last quarter. Encompass More Asset Management increased its stake in shares of Accenture by 8.6% in the third quarter. Encompass More Asset Management now owns 760 shares of the information technology services provider’s stock worth $269,000 after buying an additional 60 shares during the period. Finally, Tradition Wealth Management LLC raised its holdings in Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock valued at $3,871,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of ACN stock opened at $304.32 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $190.61 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company’s 50-day moving average is $354.96 and its 200 day moving average is $356.03.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same quarter last year, the firm earned $2.77 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and upped their price target for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Guggenheim reduced their price objective on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $378.23.

Insider Buying and Selling at Accenture

In other news, insider Angela Beatty sold 961 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.47, for a total value of $340,645.67. Following the transaction, the insider now directly owns 5,484 shares in the company, valued at $1,943,913.48. This trade represents a 14.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,905 shares of company stock worth $8,181,753. 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.