Patriot Financial Group Insurance Agency LLC Buys New Holdings in Accenture plc (NYSE:ACN)

Patriot Financial Group Insurance Agency LLC purchased a new stake in Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 965 shares of the information technology services provider’s stock, valued at approximately $340,000.

Other hedge funds also recently made changes to their positions in the company. Morse Asset Management Inc acquired a new position in Accenture in the third quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture in the 3rd quarter valued at approximately $30,000. Retirement Wealth Solutions LLC acquired a new position in shares of Accenture in the 4th quarter worth approximately $34,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake 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 buying an additional 85 shares in the last quarter. Finally, Berbice Capital Management LLC acquired a new position in Accenture during the fourth quarter worth $35,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Shares of ACN opened at $375.13 on Thursday. The stock has a market cap of $234.75 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The stock’s 50-day moving average price is $358.27 and its two-hundred day moving average price is $349.02. 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 (NYSE:ACN) last issued its quarterly earnings data 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. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.27 earnings per share. On average, equities analysts predict that Accenture plc will post 12.69 earnings per share 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 paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.58%. Accenture’s payout ratio is 49.66%.

Wall Street Analyst Weigh In

ACN has been the topic of several analyst reports. Jefferies Financial Group lowered their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Wolfe Research raised shares of 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. Piper Sandler increased their price target on Accenture from $422.00 to $429.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their target price for the company from $370.00 to $420.00 in a research note on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.74.

Insiders Place Their Bets

In other news, CFO Angie Y. Park sold 685 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares of the company’s stock, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,446 shares of company stock worth $5,852,848 over the last ninety days. 0.02% of the stock is currently owned by corporate 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.