Accenture plc (NYSE:ACN) Stock Holdings Raised by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC raised its stake in Accenture plc (NYSE:ACN) by 66.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,524 shares of the information technology services provider’s stock after purchasing an additional 2,213 shares during the period. Mach 1 Financial Group LLC’s holdings in Accenture were worth $1,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ACN. Hartford Funds Management Co LLC grew its position in shares of Accenture by 8.3% during the 4th quarter. Hartford Funds Management Co LLC now owns 898 shares of the information technology services provider’s stock valued at $315,000 after buying an additional 69 shares during the last quarter. Savant Capital LLC grew its position in shares of Accenture by 0.8% during the 4th quarter. Savant Capital LLC now owns 54,875 shares of the information technology services provider’s stock valued at $19,256,000 after buying an additional 414 shares during the last quarter. Alpha Cubed Investments LLC grew its position in shares of Accenture by 23.2% during the 4th quarter. Alpha Cubed Investments LLC now owns 1,035 shares of the information technology services provider’s stock valued at $363,000 after buying an additional 195 shares during the last quarter. MONECO Advisors LLC grew its position in shares of Accenture by 388.7% during the 4th quarter. MONECO Advisors LLC now owns 8,161 shares of the information technology services provider’s stock valued at $2,864,000 after buying an additional 6,491 shares during the last quarter. Finally, Mission Wealth Management LP grew its position in shares of Accenture by 2.7% during the 4th quarter. Mission Wealth Management LP now owns 4,850 shares of the information technology services provider’s stock valued at $1,702,000 after buying an additional 128 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Price Performance

Accenture stock traded down $2.24 during trading hours on Tuesday, hitting $300.92. The company had a trading volume of 5,224,552 shares, compared to its average volume of 2,496,410. The firm has a market capitalization of $201.84 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.92 and a beta of 1.19. The firm’s fifty day moving average is $347.09 and its 200-day moving average is $342.34. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51.

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

Accenture Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.71%. Accenture’s dividend payout ratio (DPR) is 46.78%.

Analyst Ratings Changes

ACN has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Mizuho reaffirmed a “buy” rating and issued a $398.00 price target (down from $426.00) on shares of Accenture in a research note on Friday, March 22nd. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank of Canada upped their price target on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Finally, Susquehanna reissued a “neutral” rating and set a $360.00 target price (down from $400.00) on shares of Accenture in a research note on Thursday, March 21st. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $387.00.

Insider Transactions at Accenture

In other news, CEO Manish Sharma sold 1,486 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.39, for a total transaction of $550,399.54. Following the transaction, the chief executive officer now owns 4,503 shares in the company, valued at approximately $1,667,866.17. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Kathleen R. Mcclure sold 2,070 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.32, for a total value of $766,562.40. Following the transaction, the chief financial officer now directly owns 47,110 shares in the company, valued at approximately $17,445,775.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Manish Sharma sold 1,486 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.39, for a total transaction of $550,399.54. Following the completion of the transaction, the chief executive officer now owns 4,503 shares in the company, valued at $1,667,866.17. The disclosure for this sale can be found here. Insiders have sold a total of 31,639 shares of company stock worth $10,276,287 in the last 90 days. 0.07% of the stock is owned by insiders.

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.