KRS Capital Management LLC Sells 30 Shares of Accenture plc (NYSE:ACN)

KRS Capital Management LLC decreased its stake in Accenture plc (NYSE:ACN) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,828 shares of the information technology services provider’s stock after selling 30 shares during the period. KRS Capital Management LLC’s holdings in Accenture were worth $643,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new stake in shares of Accenture in the third quarter valued at approximately $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the third quarter valued at approximately $30,000. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the fourth quarter valued at approximately $34,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Accenture by 607.1% in the third 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. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Accenture in the third quarter valued at approximately $39,000. Institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total value of $134,437.50. Following the completion of the sale, the insider now directly owns 5,149 shares in the company, valued at $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 available through this hyperlink. Also, CEO Julie Spellman Sweet sold 9,000 shares of Accenture stock in a transaction on Monday, October 21st. The stock was sold at an average price of $376.16, for a total value of $3,385,440.00. Following the sale, the chief executive officer now owns 20,324 shares of the company’s stock, valued at approximately $7,645,075.84. This trade represents a 30.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,125 shares of company stock valued at $9,570,260. Corporate insiders own 0.02% of the company’s stock.

Accenture Stock Performance

NYSE ACN traded up $1.77 during trading hours on Friday, hitting $352.33. 4,061,199 shares of the company’s stock traded hands, compared to its average volume of 2,320,392. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $220.49 billion, a P/E ratio of 29.56, a P/E/G ratio of 3.11 and a beta of 1.24. The business’s fifty day moving average price is $357.65 and its two-hundred day moving average price is $345.02.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share 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 firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same period in the previous year, the firm earned $3.27 EPS. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that Accenture plc will post 12.69 EPS for the current year.

Accenture declared that its board has initiated a stock repurchase plan on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Accenture Dividend Announcement

The firm 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. 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 dividend payout ratio is presently 49.66%.

Analyst Ratings Changes

Several equities analysts recently commented on ACN shares. Susquehanna boosted their price objective on shares of Accenture from $350.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Jefferies Financial Group boosted their price objective on shares of Accenture from $355.00 to $385.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Piper Sandler Companies reissued a “neutral” rating and issued a $329.00 price target on shares of Accenture in a research note on Friday, September 20th. 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, UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $385.04.

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.