Heritage Wealth Management Inc. CA Acquires 331 Shares of Accenture plc (NYSE:ACN)

Heritage Wealth Management Inc. CA increased its holdings in shares of Accenture plc (NYSE:ACN) by 96.5% during the fourth quarter, HoldingsChannel reports. The firm owned 674 shares of the information technology services provider’s stock after buying an additional 331 shares during the period. Heritage Wealth Management Inc. CA’s holdings in Accenture were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in Accenture during the 3rd quarter valued at about $25,000. FPC Investment Advisory Inc. lifted its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Accenture in the fourth quarter worth approximately $30,000. POM Investment Strategies LLC grew its position in Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in Accenture during the 4th quarter valued at $34,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of Accenture stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the transaction, the chief accounting officer now directly owns 8,915 shares of the company’s stock, valued at $3,516,610.90. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 11,858 shares in the company, valued at approximately $4,677,625.26. This represents a 42.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,905 shares of company stock worth $8,181,753 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

Shares of Accenture stock opened at $307.24 on Tuesday. 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 plc has a 12 month low of $278.69 and a 12 month high of $398.35. The stock has a 50 day moving average of $358.32 and a 200 day moving average of $357.10. The firm has a market cap of $192.27 billion, a PE ratio of 25.78, a PEG ratio of 3.23 and a beta of 1.24.

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, topping 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 for the quarter, compared to analysts’ expectations of $16.64 billion. During the same quarter in the previous year, the business posted $2.77 earnings per share. Accenture’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts expect that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.93%. Accenture’s payout ratio is currently 48.89%.

Analysts Set New Price Targets

ACN has been the subject of several research analyst reports. Wolfe Research raised Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a report on Wednesday, January 8th. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. UBS Group cut their target price on shares of Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.91.

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.