Merit Financial Group LLC Has $8.26 Million Stake in Accenture PLC $ACN

Merit Financial Group LLC raised its position in Accenture PLC (NYSE:ACN) by 37.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,790 shares of the information technology services provider’s stock after purchasing an additional 8,389 shares during the period. Merit Financial Group LLC’s holdings in Accenture were worth $8,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. AE Wealth Management LLC raised its stake in shares of Accenture by 1,324.9% in the 4th quarter. AE Wealth Management LLC now owns 104,515 shares of the information technology services provider’s stock valued at $28,041,000 after purchasing an additional 97,180 shares during the period. Marion Wealth Management raised its stake in shares of Accenture by 8.6% in the 4th quarter. Marion Wealth Management now owns 14,706 shares of the information technology services provider’s stock valued at $4,133,000 after purchasing an additional 1,160 shares during the period. Argo Wealth Advisory LLC acquired a new stake in shares of Accenture in the 4th quarter valued at about $2,182,000. Wright Investors Service Inc. raised its stake in shares of Accenture by 14.4% in the 4th quarter. Wright Investors Service Inc. now owns 8,676 shares of the information technology services provider’s stock valued at $2,328,000 after purchasing an additional 1,091 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Accenture by 32.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 123,821 shares of the information technology services provider’s stock valued at $33,221,000 after purchasing an additional 30,037 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 3,588 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $281.01, for a total value of $1,008,263.88. Following the transaction, the chief accounting officer owned 8,179 shares of the company’s stock, valued at approximately $2,298,380.79. This represents a 30.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Julie Spellman Sweet sold 6,057 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $241.23, for a total value of $1,461,130.11. Following the completion of the transaction, the chief executive officer directly owned 15,255 shares in the company, valued at $3,679,963.65. The trade was a 28.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,331 shares of company stock valued at $4,048,871 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

Accenture Price Performance

Shares of NYSE ACN opened at $197.71 on Friday. The business’s 50 day moving average price is $204.18 and its two-hundred day moving average price is $239.90. The company has a market cap of $131.56 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.24. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Accenture PLC has a twelve month low of $177.50 and a twelve month high of $325.71.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 earnings per share. On average, analysts predict that Accenture PLC will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $6.52 annualized dividend and a dividend yield of 3.3%. Accenture’s dividend payout ratio is presently 53.40%.

Analyst Ratings Changes

Several research firms have issued reports on ACN. Susquehanna lifted their price target on Accenture from $270.00 to $277.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Argus dropped their price target on Accenture from $370.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, December 29th. Morgan Stanley lowered their target price on Accenture from $320.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th. JPMorgan Chase & Co. lifted their target price on Accenture from $243.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Finally, Mizuho lowered their target price on Accenture from $309.00 to $280.00 and set an “outperform” rating on the stock in a research report on Monday, March 23rd. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average target price of $274.50.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.