KMG Fiduciary Partners LLC Has $247,000 Holdings in Accenture plc (NYSE:ACN)

KMG Fiduciary Partners LLC decreased its stake in shares of Accenture plc (NYSE:ACN) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 701 shares of the information technology services provider’s stock after selling 31 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Accenture were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Morse Asset Management Inc bought a new position in Accenture in the third quarter worth approximately $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Accenture in the 3rd quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC grew its position in Accenture by 607.1% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after purchasing an additional 85 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Accenture during the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC bought a new position in shares of Accenture in the third quarter valued at $51,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Accenture from $350.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. TD Cowen upgraded Accenture from a “hold” rating to a “buy” rating and raised their target price for the company from $321.00 to $400.00 in a report on Monday, September 30th. UBS Group upped their price target on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Piper Sandler raised their price objective on Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Finally, Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price for the company in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $385.04.

Accenture Stock Up 0.5 %

Shares of NYSE ACN opened at $352.33 on Friday. 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 $220.48 billion, a PE ratio of 29.56, a P/E/G ratio of 3.11 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $387.51. The business’s fifty day moving average price is $357.65 and its 200-day moving average price is $345.02.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.27 earnings per share. On average, equities research analysts anticipate that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued 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 yield of 1.68%. Accenture’s payout ratio is 49.66%.

Accenture declared that its Board of Directors has approved a stock buyback plan on Thursday, September 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the information technology services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 375 shares of the 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 sale, the insider now owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of Accenture stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total value of $1,757,357.50. Following the transaction, the general counsel now directly owns 22,976 shares of the company’s stock, valued at $8,500,430.72. The trade was a 17.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,125 shares of company stock worth $9,570,260 over the last 90 days. Corporate 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.