KMG Fiduciary Partners LLC Sells 31 Shares of Accenture plc (NYSE:ACN)

KMG Fiduciary Partners LLC lowered its holdings in shares of Accenture plc (NYSE:ACN) by 4.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 701 shares of the information technology services provider’s stock after selling 31 shares during the period. KMG Fiduciary Partners LLC’s holdings in Accenture were worth $247,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACN. Morse Asset Management Inc acquired a new position in Accenture in the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Accenture in the third quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Accenture in the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Accenture during the third quarter worth $51,000. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

NYSE ACN opened at $352.33 on Friday. Accenture plc has a fifty-two week low of $278.69 and a fifty-two week high of $387.51. The stock has a market cap of $220.48 billion, a PE ratio of 29.56, a PEG ratio of 3.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s fifty day moving average price is $357.65 and its two-hundred day moving average price is $345.02.

Accenture (NYSE:ACN) last issued its 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. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the prior year, the firm earned $3.27 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts expect that Accenture plc will post 12.69 EPS for the current fiscal year.

Accenture announced that its Board of Directors has approved a share buyback plan on Thursday, September 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Accenture Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

Insider Activity

In other news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the transaction, the insider now directly owns 5,149 shares in the company, valued at $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Joel Unruch sold 4,750 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $369.97, for a total value of $1,757,357.50. Following the completion of the sale, the general counsel now owns 22,976 shares in the company, valued at $8,500,430.72. The trade was a 17.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,125 shares of company stock valued at $9,570,260. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of a number of recent research reports. Susquehanna raised their price target on shares of Accenture from $350.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on Accenture from $370.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Wolfe Research upgraded Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. BNP Paribas downgraded 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. Finally, The Goldman Sachs Group upgraded Accenture from a “neutral” rating to a “buy” rating and raised their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $385.04.

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.