One Wealth Capital Management LLC Invests $771,000 in Accenture plc (NYSE:ACN)

One Wealth Capital Management LLC purchased a new position in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,192 shares of the information technology services provider’s stock, valued at approximately $771,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schrum Private Wealth Management LLC boosted its holdings in shares of Accenture by 78.6% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 11,448 shares of the information technology services provider’s stock worth $4,047,000 after buying an additional 5,038 shares in the last quarter. MQS Management LLC bought a new stake in Accenture during the 3rd quarter valued at $1,040,000. Concurrent Investment Advisors LLC lifted its stake in shares of Accenture by 70.6% in the third quarter. Concurrent Investment Advisors LLC now owns 35,591 shares of the information technology services provider’s stock valued at $12,581,000 after buying an additional 14,724 shares in the last quarter. M&G PLC grew its holdings in shares of Accenture by 34.1% during the third quarter. M&G PLC now owns 292,808 shares of the information technology services provider’s stock valued at $103,361,000 after buying an additional 74,438 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Accenture by 18.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 172,199 shares of the information technology services provider’s stock worth $52,247,000 after acquiring an additional 27,168 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Shares of ACN traded up $3.68 during midday trading on Tuesday, hitting $355.01. 2,557,743 shares of the company traded hands, compared to its average volume of 2,256,558. The stock has a 50-day moving average of $357.39 and a 200-day moving average of $342.94. The firm has a market cap of $222.16 billion, a P/E ratio of 31.06, a PEG ratio of 3.23 and a beta of 1.24. Accenture plc has a one year low of $278.69 and a one year high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a return on equity of 26.83% and a net margin of 11.20%. The firm had revenue of $17.69 billion for the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter last year, the firm posted $3.27 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Accenture plc will post 12.74 EPS for the current fiscal year.

Accenture declared that its Board of Directors has approved a share buyback program on Thursday, September 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Accenture Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 16th. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Insider Transactions at Accenture

In other Accenture 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 directly owns 20,324 shares in the company, valued at $7,645,075.84. This trade represents a 30.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryoji Sekido sold 3,191 shares of the business’s 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 owns 6 shares of the company’s stock, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,673 shares of company stock valued at $13,507,099. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of recent research reports. Robert W. Baird reissued a “neutral” rating and set a $370.00 price objective on shares of Accenture in a report on Tuesday, December 3rd. TD Cowen upgraded shares of Accenture from a “hold” rating to a “buy” rating and increased their price objective for the company from $321.00 to $400.00 in a research note on Monday, September 30th. BNP Paribas lowered Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Guggenheim boosted their price objective on Accenture from $380.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group raised their target price on Accenture from $355.00 to $385.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $383.23.

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.