FourThought Financial Partners LLC Has $10.97 Million Holdings in Accenture plc (NYSE:ACN)

FourThought Financial Partners LLC reduced its position in Accenture plc (NYSE:ACN) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,269 shares of the information technology services provider’s stock after selling 431 shares during the quarter. Accenture makes up 1.4% of FourThought Financial Partners LLC’s portfolio, making the stock its 21st largest holding. FourThought Financial Partners LLC’s holdings in Accenture were worth $10,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Provence Wealth Management Group increased its holdings in shares of Accenture by 21.6% in the fourth quarter. Provence Wealth Management Group now owns 1,637 shares of the information technology services provider’s stock valued at $574,000 after purchasing an additional 291 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in Accenture by 9.6% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,538 shares of the information technology services provider’s stock valued at $1,242,000 after buying an additional 311 shares during the last quarter. Sapient Capital LLC bought a new stake in shares of Accenture during the fourth quarter worth $30,418,000. Axxcess Wealth Management LLC lifted its stake in shares of Accenture by 50.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 21,404 shares of the information technology services provider’s stock valued at $7,511,000 after acquiring an additional 7,135 shares during the period. Finally, 9258 Wealth Management LLC boosted its holdings in Accenture by 3.6% in the fourth quarter. 9258 Wealth Management LLC now owns 1,308 shares of the information technology services provider’s stock valued at $459,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACN. Royal Bank of Canada raised their target price on shares of Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Morgan Stanley upped their target price on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Guggenheim started coverage on Accenture in a research note on Tuesday, March 19th. They set a “buy” rating and a $425.00 price objective for the company. Bank of America increased their target price on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, UBS Group boosted their target price on Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Insider Activity at Accenture

In other Accenture news, CFO Kathleen R. Mcclure sold 2,070 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $370.32, for a total transaction of $766,562.40. Following the transaction, the chief financial officer now owns 47,110 shares of the company’s stock, valued at $17,445,775.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Accenture news, CFO Kathleen R. Mcclure sold 2,070 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.32, for a total value of $766,562.40. Following the transaction, the chief financial officer now directly owns 47,110 shares in the company, valued at $17,445,775.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Manish Sharma sold 1,486 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $370.39, for a total transaction of $550,399.54. Following the sale, the chief executive officer now owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,639 shares of company stock worth $10,276,287. Insiders own 0.07% of the company’s stock.

Accenture Price Performance

ACN stock traded up $3.37 during midday trading on Friday, hitting $303.71. The company’s stock had a trading volume of 2,767,141 shares, compared to its average volume of 3,150,080. The company’s fifty day moving average price is $342.95 and its 200 day moving average price is $341.73. Accenture plc has a twelve month low of $261.68 and a twelve month high of $387.51. The stock has a market capitalization of $203.71 billion, a P/E ratio of 27.53, a PEG ratio of 2.85 and a beta of 1.21.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. Accenture’s revenue was down .1% on a year-over-year basis. Equities analysts expect that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be issued a $1.29 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.70%. Accenture’s payout ratio is 46.78%.

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.