Tyche Wealth Partners LLC Invests $1.37 Million in Accenture plc (NYSE:ACN)

Tyche Wealth Partners LLC bought a new position in Accenture plc (NYSE:ACN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,916 shares of the information technology services provider’s stock, valued at approximately $1,374,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACN. Norges Bank purchased a new stake in shares of Accenture in the 4th quarter worth about $1,850,765,000. Moneta Group Investment Advisors LLC grew its position in Accenture by 101,214.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,040,402 shares of the information technology services provider’s stock valued at $1,078,141,000 after purchasing an additional 4,036,414 shares during the last quarter. Morgan Stanley grew its position in Accenture by 14.9% during the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after purchasing an additional 2,163,582 shares during the last quarter. Wellington Management Group LLP grew its position in Accenture by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock valued at $3,388,856,000 after purchasing an additional 720,647 shares during the last quarter. Finally, State Street Corp grew its position in Accenture by 2.7% during the 1st quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock valued at $7,560,765,000 after purchasing an additional 704,657 shares during the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Accenture news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the sale, the chief operating officer now owns 17,877 shares in the company, valued at approximately $5,937,488.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Accenture news, COO John F. Walsh sold 8,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the sale, the general counsel now directly owns 34,795 shares of the company’s stock, valued at $12,937,824.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,000 shares of company stock worth $11,146,998. Company insiders own 0.07% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN traded up $0.67 during trading on Tuesday, hitting $313.94. The company’s stock had a trading volume of 2,900,253 shares, compared to its average volume of 2,362,851. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51. The firm has a market cap of $210.57 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.99 and a beta of 1.19. The company has a 50-day moving average of $359.41 and a 200-day moving average of $342.09.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.85 billion. During the same quarter last year, the business earned $2.69 EPS. The firm’s revenue was down .1% compared to the same quarter last year. As a group, research analysts anticipate that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on ACN shares. Piper Sandler increased their price objective on shares of Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. UBS Group increased their price objective on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Robert W. Baird increased their price objective on shares of Accenture from $364.00 to $375.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Mizuho restated a “buy” rating and set a $398.00 target price (down previously from $426.00) on shares of Accenture in a research note on Friday, March 22nd. Finally, BNP Paribas upgraded shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Wednesday, January 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

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.