Wynn Capital LLC Makes New Investment in Accenture plc (NYSE:ACN)

Wynn Capital LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,432 shares of the information technology services provider’s stock, valued at approximately $503,000.

Several other hedge funds have also recently modified their holdings of ACN. Chilton Capital Management LLC raised its stake in Accenture by 180.0% in the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after buying an additional 45 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Accenture in the 3rd quarter worth $31,000. Halpern Financial Inc. bought a new stake in Accenture during the 4th quarter valued at about $31,000. Valued Wealth Advisors LLC bought a new stake in shares of Accenture in the 4th quarter valued at about $50,000. Finally, Valley National Advisers Inc. grew its position in Accenture by 40.3% during the 3rd quarter. Valley National Advisers Inc. now owns 167 shares of the information technology services provider’s stock worth $51,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In other news, CAO Melissa A. Burgum sold 3,010 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the completion of the transaction, the chief accounting officer now owns 9,193 shares in the company, valued at $3,417,957.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Accenture news, CAO Melissa A. Burgum sold 3,010 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $371.80, for a total transaction of $1,119,118.00. Following the transaction, the chief accounting officer now owns 9,193 shares in the company, valued at $3,417,957.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction on 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 sale, the general counsel now owns 34,795 shares in the company, valued at approximately $12,937,824.85. The disclosure for this sale can be found here. Insiders have sold 39,833 shares of company stock valued at $13,645,871 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Accenture Stock Down 1.0 %

Accenture stock traded down $3.29 during midday trading on Wednesday, reaching $313.54. The stock had a trading volume of 4,125,479 shares, compared to its average volume of 2,408,188. The firm has a market cap of $210.30 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.19. The company has a fifty day moving average of $353.29 and a 200 day moving average of $342.40. Accenture plc has a 52-week low of $261.68 and a 52-week high of $387.51.

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. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.69 earnings per share. Equities research analysts predict that Accenture plc will post 12.09 EPS for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be issued a $1.29 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 annualized dividend and a yield of 1.65%. Accenture’s dividend payout ratio is presently 46.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACN shares. Royal Bank of Canada upped their price objective on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Susquehanna reiterated a “neutral” rating and set a $360.00 price target (down previously from $400.00) on shares of Accenture in a report on Thursday, March 21st. Morgan Stanley upped their price target on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Mizuho reaffirmed a “buy” rating and set a $398.00 price target (down from $426.00) on shares of Accenture in a research note on Friday, March 22nd. Finally, 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 note on Thursday, March 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

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.