Tyche Wealth Partners LLC Purchases Shares of 3,916 Accenture plc (NYSE:ACN)

Tyche Wealth Partners LLC purchased a new stake in Accenture plc (NYSE:ACN) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,916 shares of the information technology services provider’s stock, valued at approximately $1,374,000.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC raised its stake in shares of Accenture by 0.4% during the 4th quarter. Avior Wealth Management LLC now owns 11,820 shares of the information technology services provider’s stock worth $4,148,000 after buying an additional 43 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Accenture by 4.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 525,574 shares of the information technology services provider’s stock worth $184,429,000 after buying an additional 22,066 shares during the period. West Paces Advisors Inc. raised its stake in shares of Accenture by 23.1% during the 4th quarter. West Paces Advisors Inc. now owns 314 shares of the information technology services provider’s stock worth $110,000 after buying an additional 59 shares during the period. Wealth Alliance raised its stake in shares of Accenture by 8.8% during the 4th quarter. Wealth Alliance now owns 5,231 shares of the information technology services provider’s stock worth $1,836,000 after buying an additional 425 shares during the period. Finally, Main Street Research LLC raised its stake in shares of Accenture by 8.6% during the 4th quarter. Main Street Research LLC now owns 3,871 shares of the information technology services provider’s stock worth $1,358,000 after buying an additional 307 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Accenture Stock Performance

Shares of NYSE ACN traded up $0.67 during mid-day trading on Tuesday, reaching $313.94. 2,900,253 shares of the company’s stock were exchanged, compared to its average volume of 2,362,851. The firm has a market capitalization of $210.57 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.99 and a beta of 1.19. Accenture plc has a 52-week low of $261.68 and a 52-week high of $387.51. The company’s 50-day moving average is $359.41 and its 200-day moving average is $342.09.

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

Accenture Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACN shares. BMO Capital Markets reduced their target price on Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Redburn Atlantic boosted their price target on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Susquehanna reiterated a “neutral” rating and set a $360.00 price target (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Royal Bank of Canada boosted their price target on Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, Citigroup dropped their price target on Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $387.00.

Insider Buying and Selling

In related news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the transaction, the general counsel now owns 34,795 shares of the company’s stock, valued at approximately $12,937,824.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, General Counsel Joel Unruch sold 4,333 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the transaction, the general counsel now owns 34,795 shares of the company’s stock, valued at approximately $12,937,824.85. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $362.77, for a total value of $2,267,312.50. Following the transaction, the chief executive officer now directly owns 167,831 shares in the company, valued at approximately $60,884,051.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,000 shares of company stock valued at $11,146,998. Corporate insiders own 0.07% of the company’s stock.

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.