Modern Wealth Management LLC Has $1.32 Million Stock Position in Accenture plc (NYSE:ACN)

Modern Wealth Management LLC grew its holdings in Accenture plc (NYSE:ACN) by 137.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,415 shares of the information technology services provider’s stock after purchasing an additional 1,977 shares during the quarter. Modern Wealth Management LLC’s holdings in Accenture were worth $1,321,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of Accenture by 17.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,114 shares of the information technology services provider’s stock worth $394,000 after purchasing an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Accenture by 12.3% during the third quarter. Brown Brothers Harriman & Co. now owns 11,538 shares of the information technology services provider’s stock worth $4,078,000 after buying an additional 1,267 shares during the last quarter. Associated Banc Corp grew its position in shares of Accenture by 6.7% during the 3rd quarter. Associated Banc Corp now owns 1,180 shares of the information technology services provider’s stock worth $417,000 after buying an additional 74 shares during the period. Qsemble Capital Management LP bought a new stake in shares of Accenture in the 3rd quarter valued at about $1,597,000. Finally, D.A. Davidson & CO. boosted its stake in Accenture by 2.6% during the 3rd quarter. D.A. Davidson & CO. now owns 108,018 shares of the information technology services provider’s stock worth $38,182,000 after acquiring an additional 2,742 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE ACN opened at $308.97 on Wednesday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $398.35. The stock has a market capitalization of $193.35 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.23 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 business has a 50-day moving average of $357.53 and a 200-day moving average of $356.88.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.77 EPS. As a group, sell-side analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 1.92%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ACN. Mizuho lowered their target price 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. StockNews.com downgraded Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their target price on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Guggenheim cut their price objective on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Barclays lowered their target price on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $378.91.

Insider Transactions at Accenture

In other Accenture news, insider Angela Beatty sold 961 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 5,484 shares in the company, valued at $1,943,913.48. This represents a 14.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the transaction, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,905 shares of company stock worth $8,181,753 in the last ninety days. Insiders own 0.02% of the company’s stock.

Accenture 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.