SteelPeak Wealth LLC Grows Position in Accenture plc (NYSE:ACN)

SteelPeak Wealth LLC boosted its position in Accenture plc (NYSE:ACN - Free Report) by 127.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,323 shares of the information technology services provider's stock after buying an additional 1,300 shares during the quarter. SteelPeak Wealth LLC's holdings in Accenture were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Accenture by 378.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider's stock valued at $1,941,219,000 after buying an additional 4,345,039 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Accenture by 2,666.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 715,219 shares of the information technology services provider's stock valued at $251,607,000 after acquiring an additional 689,366 shares during the period. Holocene Advisors LP bought a new position in Accenture in the 3rd quarter valued at $204,895,000. International Assets Investment Management LLC grew its position in Accenture by 37,788.5% during the third quarter. International Assets Investment Management LLC now owns 510,358 shares of the information technology services provider's stock worth $180,401,000 after buying an additional 509,011 shares in the last quarter. Finally, State Street Corp increased its position in shares of Accenture by 1.8% in the third quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider's stock worth $9,685,648,000 after purchasing an additional 471,792 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company's stock.

Insider Activity

In other Accenture news, insider Angela Beatty sold 375 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the sale, the insider now directly owns 5,149 shares of the company's stock, valued at $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Joel Unruch sold 4,750 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $362.78, for a total value 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. This represents a 18.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,446 shares of company stock worth $5,852,848 over the last quarter. Insiders own 0.02% of the company's stock.

Accenture Stock Performance

ACN stock traded up $6.36 during trading on Thursday, reaching $380.78. The stock had a trading volume of 2,218,531 shares, compared to its average volume of 2,751,011. The stock's 50 day moving average is $358.63 and its two-hundred day moving average is $349.20. Accenture plc has a 52 week low of $278.69 and a 52 week high of $387.51. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $238.29 billion, a PE ratio of 31.94, a PEG ratio of 3.20 and a beta of 1.24.

Accenture (NYSE:ACN - Get Free Report) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating 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 business had revenue of $17.69 billion during the quarter, compared to analysts' expectations of $17.15 billion. During the same period in the prior year, the company earned $3.27 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis. As a group, equities analysts anticipate that Accenture plc will post 12.69 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a yield of 1.55%. Accenture's payout ratio is 49.66%.

Wall Street Analysts Forecast Growth

ACN has been the subject of several research reports. Wolfe Research upgraded shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 target price for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group upgraded Accenture from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $370.00 to $420.00 in a research report on Friday, December 6th. Robert W. Baird reissued a "neutral" rating and issued a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. UBS Group upped their target price on Accenture from $450.00 to $455.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, BNP Paribas cut shares of Accenture from an "outperform" rating to a "neutral" rating and set a $375.00 target price for the company. in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $383.74.

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.