Kingsview Wealth Management LLC Has $3.77 Million Stock Holdings in Accenture plc (NYSE:ACN)

Kingsview Wealth Management LLC cut its holdings in Accenture plc (NYSE:ACN) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,706 shares of the information technology services provider’s stock after selling 81 shares during the period. Kingsview Wealth Management LLC’s holdings in Accenture were worth $3,766,000 at the end of the most recent reporting period.

Other institutional investors also recently 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 worth $22,314,000 after purchasing an additional 3,883 shares during the period. Schrum Private Wealth Management LLC lifted its stake 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 during the last quarter. MQS Management LLC acquired a new position in Accenture in the 3rd quarter valued at $1,040,000. Concurrent Investment Advisors LLC lifted its position in Accenture by 70.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock worth $12,581,000 after acquiring an additional 14,724 shares during the last quarter. Finally, M&G PLC grew 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 valued at $103,361,000 after purchasing an additional 74,438 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.

Accenture Trading Down 0.3 %

ACN stock opened at $386.04 on Monday. 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 stock has a market capitalization of $241.58 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 3.44 and a beta of 1.24. The business has a fifty day moving average price of $362.30 and a 200 day moving average price of $352.18. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last issued its quarterly 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 business had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 EPS. Analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.53%. Accenture’s payout ratio is currently 49.66%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in 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 note on Friday, December 20th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $370.00 to $420.00 in a research note on Friday, December 6th. Piper Sandler increased their price target on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Jefferies Financial Group cut their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 price target for the company. in a report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $387.22.

Insider Activity at Accenture

In other Accenture news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock worth $8,316,190 over the last 90 days. 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.