Alteri Wealth LLC Invests $321,000 in Accenture plc (NYSE:ACN)

Alteri Wealth LLC acquired a new position in shares of 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 firm acquired 913 shares of the information technology services provider’s stock, valued at approximately $321,000.

Other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. lifted its position in shares of Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after buying an additional 28 shares during the last quarter. FPC Investment Advisory Inc. lifted its holdings in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares during the last quarter. New England Professional Planning Group Inc. boosted its position in Accenture by 4.6% during the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after purchasing an additional 29 shares during the period. Nemes Rush Group LLC increased its stake in shares of Accenture by 7.5% in the fourth quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock worth $147,000 after purchasing an additional 29 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. lifted its stake in shares of Accenture by 4.3% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 725 shares of the information technology services provider’s stock valued at $255,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In other news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the sale, the insider now owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. The trade was a 3.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares of the company’s stock, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,041 shares of company stock valued at $5,254,956 over the last quarter. 0.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a report on Monday, March 17th. Guggenheim dropped their price objective on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Mizuho reduced their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target on the stock in a report on Monday, March 17th. Finally, Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.82.

Accenture Stock Performance

Shares of ACN stock opened at $305.49 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. The company has a market capitalization of $191.34 billion, a P/E ratio of 25.63, a PEG ratio of 3.23 and a beta of 1.32. The stock has a 50 day moving average price of $308.74 and a two-hundred day moving average price of $344.83.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. During the same quarter in the prior year, the company posted $2.77 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.94%. Accenture’s dividend payout ratio is presently 48.89%.

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.