Aaron Wealth Advisors LLC Buys 886 Shares of Accenture plc (NYSE:ACN)

Aaron Wealth Advisors LLC boosted its stake in shares of Accenture plc (NYSE:ACN - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,937 shares of the information technology services provider's stock after purchasing an additional 886 shares during the period. Aaron Wealth Advisors LLC's holdings in Accenture were worth $2,792,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ACN. Masso Torrence Wealth Management Inc. raised its position in 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 valued at $511,000 after purchasing an additional 28 shares in the last quarter. BSW Wealth Partners boosted its stake in Accenture by 0.7% in the third quarter. BSW Wealth Partners now owns 4,077 shares of the information technology services provider's stock worth $1,441,000 after buying an additional 28 shares in the last quarter. Slow Capital Inc. raised 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 in the last quarter. Tradition Wealth Management LLC grew its holdings in shares of Accenture by 0.3% during the 3rd quarter. Tradition Wealth Management LLC now owns 10,951 shares of the information technology services provider's stock valued at $3,871,000 after purchasing an additional 29 shares during the last quarter. Finally, NBC Securities Inc. boosted its position 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 valued at $1,840,000 after buying an additional 30 shares during the period. 75.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Julie Spellman Sweet sold 9,000 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $376.16, for a total transaction of $3,385,440.00. Following the transaction, the chief executive officer now owns 20,324 shares in the company, valued at $7,645,075.84. This represents a 30.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryoji Sekido sold 3,191 shares of Accenture stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the completion of the sale, the chief executive officer now directly owns 6 shares of the company's stock, valued at approximately $2,062.20. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,125 shares of company stock valued at $9,570,260 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ACN has been the subject of a number of recent research reports. Susquehanna boosted their target price on Accenture from $350.00 to $360.00 and gave the company a "neutral" rating in a research note on Friday, September 27th. The Goldman Sachs Group upgraded shares of Accenture from a "neutral" rating to a "buy" rating and increased their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Piper Sandler upped their price target on Accenture from $422.00 to $429.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Robert W. Baird reissued a "neutral" rating and set a $370.00 target price on shares of Accenture in a research note on Tuesday, December 3rd. Finally, Bank of America raised their price target on Accenture from $365.00 to $388.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $385.04.

Accenture Stock Up 0.5 %

Accenture stock traded up $1.77 during mid-day trading on Friday, hitting $352.33. The company had a trading volume of 4,061,199 shares, compared to its average volume of 2,320,392. Accenture plc has a 12 month low of $278.69 and a 12 month high of $387.51. The company has a market capitalization of $220.49 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 3.11 and a beta of 1.24. The stock's 50 day moving average price is $357.59 and its two-hundred day moving average price is $345.65. 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 (NYSE:ACN - Get Free Report) last announced 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. The company had revenue of $17.69 billion for the quarter, compared to analysts' expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.27 EPS. As a group, sell-side analysts anticipate that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture announced that its board has initiated a share buyback plan on Thursday, September 26th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the information technology services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, January 16th. Accenture's dividend payout ratio is currently 49.66%.

Accenture 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.