Hedeker Wealth LLC Decreases Holdings in Accenture plc (NYSE:ACN)

Hedeker Wealth LLC trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,909 shares of the information technology services provider’s stock after selling 230 shares during the quarter. Hedeker Wealth LLC’s holdings in Accenture were worth $4,541,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ACN. Masso Torrence Wealth Management Inc. increased its stake in shares of Accenture by 2.0% during the third quarter. Masso Torrence Wealth Management Inc. now owns 1,447 shares of the information technology services provider’s stock worth $511,000 after acquiring an additional 28 shares during the period. BSW Wealth Partners increased its stake in shares of Accenture by 0.7% during the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider’s stock worth $1,441,000 after acquiring an additional 28 shares during the period. Slow Capital Inc. increased its stake in shares of Accenture by 0.3% during the third quarter. Slow Capital Inc. now owns 9,067 shares of the information technology services provider’s stock worth $3,205,000 after acquiring an additional 29 shares during the period. Tradition Wealth Management LLC boosted its holdings in Accenture by 0.3% during the third quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider’s stock worth $3,871,000 after buying an additional 29 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in Accenture by 0.6% during the third quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after buying an additional 30 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the transaction, the chief executive officer now owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. This trade represents a 42.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Joel Unruch sold 4,750 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $362.78, for a total transaction of $1,723,205.00. Following the transaction, the general counsel now directly owns 20,526 shares in the company, valued at approximately $7,446,422.28. The trade was a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,280 shares of company stock valued at $8,316,190 in the last quarter. Company insiders own 0.02% of the company’s stock.

Accenture Trading Down 2.9 %

NYSE ACN opened at $386.71 on Friday. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35. 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 company has a market capitalization of $242.00 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 3.43 and a beta of 1.24. The company’s fifty day moving average price is $361.34 and its two-hundred day moving average price is $351.40.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $17.69 billion for the quarter, compared to the consensus estimate of $17.15 billion. During the same period last year, the firm posted $3.27 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts predict that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.53%. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Jefferies Financial Group cut their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley upped their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird reaffirmed a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Finally, UBS Group increased their price objective on shares of Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Eight research 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, Accenture has an average rating of “Moderate Buy” and a consensus price target of $387.22.

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.