Apollon Wealth Management LLC Acquires 691 Shares of Accenture plc (NYSE:ACN)

Apollon Wealth Management LLC grew its stake in shares of Accenture plc (NYSE:ACN) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,909 shares of the information technology services provider’s stock after acquiring an additional 691 shares during the quarter. Apollon Wealth Management LLC’s holdings in Accenture were worth $10,170,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Masso Torrence Wealth Management Inc. increased its holdings 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 buying an additional 28 shares during the last quarter. BSW Wealth Partners raised its stake in shares of 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 during the period. Slow Capital Inc. increased its holdings in Accenture by 0.3% in the 3rd 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 raised its position 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 period. Finally, NBC Securities Inc. boosted its holdings in Accenture by 0.6% in the 3rd quarter. NBC Securities Inc. now owns 5,206 shares of the information technology services provider’s stock worth $1,840,000 after buying an additional 30 shares during the period. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at approximately $3,516,610.90. This trade represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 375 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the transaction, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,280 shares of company stock worth $8,316,190. Insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of NYSE:ACN opened at $386.04 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $241.58 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 3.43 and a beta of 1.24. The firm has a 50 day moving average of $361.83 and a 200 day moving average of $351.65. Accenture plc has a 52 week low of $278.69 and a 52 week high of $398.35.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, topping 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 the consensus estimate of $17.15 billion. During the same period in the previous year, the company posted $3.27 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts predict that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture Announces Dividend

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 given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s payout ratio is presently 49.66%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird reiterated a “neutral” rating and set a $370.00 target price on shares of Accenture in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price objective for the company from $370.00 to $420.00 in a report on Friday, December 6th. UBS Group boosted their target price on Accenture from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Jefferies Financial Group decreased their price objective on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Finally, Morgan Stanley boosted their price target on shares of Accenture from $335.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $387.22.

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.