Curated Wealth Partners LLC Raises Stock Position in Accenture plc (NYSE:ACN)

Curated Wealth Partners LLC grew its position in shares of Accenture plc (NYSE:ACN) by 18.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 990 shares of the information technology services provider’s stock after purchasing an additional 154 shares during the quarter. Curated Wealth Partners LLC’s holdings in Accenture were worth $309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. FPC Investment Advisory Inc. increased its position 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 worth $28,000 after buying an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture during the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new position in Accenture in the fourth quarter valued at $30,000. POM Investment Strategies LLC raised its holdings in shares of Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after buying an additional 34 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Accenture during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACN shares. UBS Group reissued a “buy” rating and issued a $395.00 target price (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Morgan Stanley reduced their target price on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research note on Monday, March 17th. Guggenheim reduced their price objective on shares of Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Mizuho reduced their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a report on Wednesday, March 19th. Finally, Stifel Nicolaus decreased their price target on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $382.14.

Accenture Stock Performance

Accenture stock opened at $316.72 on Tuesday. The stock has a fifty day moving average price of $303.16 and a 200 day moving average price of $336.65. 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 plc has a 52 week low of $275.01 and a 52 week high of $398.35. The firm has a market capitalization of $198.37 billion, a P/E ratio of 26.57, a PEG ratio of 3.23 and a beta of 1.33.

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

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.87%. Accenture’s dividend payout ratio (DPR) is 48.89%.

Insiders Place Their Bets

In related news, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the sale, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the business’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the transaction, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 over the last ninety days. 0.02% of the stock is owned by company 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.