Daymark Wealth Partners LLC Sells 241 Shares of Accenture plc (NYSE:ACN)

Daymark Wealth Partners LLC decreased its holdings in Accenture plc (NYSE:ACN) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,850 shares of the information technology services provider’s stock after selling 241 shares during the period. Daymark Wealth Partners LLC’s holdings in Accenture were worth $2,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Schrum Private Wealth Management LLC increased its position in shares of Accenture by 78.6% during the third quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock valued at $4,047,000 after buying an additional 5,038 shares during the period. MQS Management LLC bought a new stake in Accenture during the 3rd quarter worth approximately $1,040,000. Concurrent Investment Advisors LLC lifted its stake in Accenture by 70.6% in 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 purchasing an additional 14,724 shares in the last quarter. M&G PLC boosted its holdings in Accenture by 34.1% in the 3rd 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 period. Finally, Radnor Capital Management LLC increased its holdings in shares of Accenture by 21.6% in the third quarter. Radnor Capital Management LLC now owns 22,131 shares of the information technology services provider’s stock worth $7,823,000 after purchasing an additional 3,930 shares during the period. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. TD Cowen raised Accenture from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $321.00 to $400.00 in a report on Monday, September 30th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 8th. Barclays boosted their price target on shares of Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Guggenheim lifted their price objective on shares of Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $383.74.

Accenture Price Performance

Shares of Accenture stock opened at $359.08 on Thursday. The firm has a market cap of $224.71 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company’s fifty day simple moving average is $357.40 and its two-hundred day simple moving average is $346.66. The company has a quick ratio of 1.47, a current 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 $387.51.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.16. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same quarter in the previous year, the business earned $3.27 EPS. Accenture’s revenue was up 9.0% compared to the same quarter last year. As a group, equities analysts expect that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Accenture announced that its Board of Directors has approved a share buyback plan on Thursday, September 26th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 2,497 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the transaction, the chief executive officer now owns 28,866 shares of the company’s stock, valued at approximately $10,232,419.68. This represents a 7.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,332 shares of company stock valued at $6,172,719. 0.02% of the stock is currently owned by company insiders.

About Accenture

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.