Connecticut Wealth Management LLC Has $2.66 Million Position in Accenture plc (NYSE:ACN)

Connecticut Wealth Management LLC raised its holdings in Accenture plc (NYSE:ACN) by 224.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,579 shares of the information technology services provider’s stock after buying an additional 5,243 shares during the period. Connecticut Wealth Management LLC’s holdings in Accenture were worth $2,660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. grew its position in shares of Accenture by 11.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,413 shares of the information technology services provider’s stock valued at $1,048,000 after acquiring an additional 345 shares during the period. Jacobsen Capital Management bought a new position in shares of Accenture in the 3rd quarter valued at about $220,000. Sage Mountain Advisors LLC grew its position in shares of Accenture by 12.8% in the 3rd quarter. Sage Mountain Advisors LLC now owns 3,530 shares of the information technology services provider’s stock valued at $1,084,000 after acquiring an additional 401 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Accenture by 0.3% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 23,032 shares of the information technology services provider’s stock valued at $7,073,000 after acquiring an additional 77 shares during the period. Finally, Oak Harvest Investment Services grew its position in shares of Accenture by 61.2% in the 3rd quarter. Oak Harvest Investment Services now owns 3,815 shares of the information technology services provider’s stock valued at $1,172,000 after acquiring an additional 1,448 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ACN shares. BMO Capital Markets reduced their target price on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price for the company in a report on Wednesday, January 17th. TD Cowen reduced their target price on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Piper Sandler lifted their target price on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, UBS Group boosted their price objective on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Accenture Stock Performance

Shares of NYSE:ACN traded up $3.37 during trading on Friday, reaching $303.71. The stock had a trading volume of 2,767,141 shares, compared to its average volume of 3,150,080. The firm’s fifty day moving average is $342.95 and its 200 day moving average is $341.73. Accenture plc has a 52 week low of $261.68 and a 52 week high of $387.51. The stock has a market cap of $203.71 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 2.85 and a beta of 1.21.

Accenture (NYSE:ACN) last issued 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. The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. Accenture’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.69 earnings per share. On average, research analysts forecast that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Announces Dividend

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

Insider Buying and Selling

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the transaction, the insider now owns 13,699 shares in the company, valued at $4,208,606.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Manish Sharma sold 1,486 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the completion of the sale, the chief executive officer now owns 4,503 shares in the company, valued at $1,667,866.17. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders have sold a total of 31,639 shares of company stock valued at $10,276,287 over the last ninety days. 0.07% of the stock is owned by corporate insiders.

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.