CIBC Private Wealth Group LLC Has $82.31 Million Holdings in Accenture plc (NYSE:ACN)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Accenture plc (NYSE:ACN) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,075 shares of the information technology services provider’s stock after selling 3,255 shares during the period. CIBC Private Wealth Group LLC’s holdings in Accenture were worth $82,305,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Encompass More Asset Management lifted its stake in Accenture by 8.6% in the third quarter. Encompass More Asset Management now owns 760 shares of the information technology services provider’s stock valued at $269,000 after buying an additional 60 shares during the period. Tradition Wealth Management LLC raised its position in shares of Accenture by 0.3% in 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 acquiring an additional 29 shares during the period. FSA Wealth Management LLC bought a new position in Accenture during the 3rd quarter worth approximately $57,000. Kestra Investment Management LLC bought a new stake in Accenture in the third quarter valued at approximately $2,565,000. Finally, Benjamin Edwards Inc. raised its holdings in Accenture by 509.8% in the third quarter. Benjamin Edwards Inc. now owns 152,051 shares of the information technology services provider’s stock worth $53,812,000 after purchasing an additional 127,117 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 8,793 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total transaction of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were 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 represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,905 shares of company stock valued at $8,181,753 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Accenture Trading Down 1.4 %

Shares of Accenture stock opened at $304.32 on Monday. 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 has a 50-day moving average of $354.96 and a 200-day moving average of $356.07. Accenture plc has a 52-week low of $278.69 and a 52-week high of $398.35. The stock has a market cap of $190.61 billion, a PE ratio of 25.53, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The firm had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.77 EPS. As a group, sell-side analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. UBS Group lowered their price objective on shares of Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Jefferies Financial Group dropped their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Piper Sandler decreased their price objective on Accenture from $396.00 to $364.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Guggenheim dropped their target price on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Mizuho lowered their price objective on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $378.23.

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.