Interval Partners LP Invests $2.24 Million in Accenture plc (NYSE:ACN)

Interval Partners LP purchased a new position in shares of Accenture plc (NYSE:ACN) in the fourth quarter, HoldingsChannel reports. The firm purchased 6,371 shares of the information technology services provider’s stock, valued at approximately $2,241,000.

A number of other hedge funds have also modified their holdings of the business. Newbridge Financial Services Group Inc. boosted its holdings in Accenture by 5.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock valued at $182,000 after acquiring an additional 28 shares during the period. FPC Investment Advisory Inc. boosted its holdings in Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the period. New England Professional Planning Group Inc. boosted its holdings in Accenture by 4.6% during the 4th quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock valued at $230,000 after acquiring an additional 29 shares during the period. Nemes Rush Group LLC boosted its holdings in Accenture by 7.5% during the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock valued at $147,000 after acquiring an additional 29 shares during the period. Finally, M3 Advisory Group LLC boosted its holdings in Accenture by 4.1% during the 4th quarter. M3 Advisory Group LLC now owns 753 shares of the information technology services provider’s stock valued at $265,000 after acquiring an additional 30 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Price Performance

Shares of NYSE ACN opened at $307.85 on Monday. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. The business has a 50 day moving average price of $304.36 and a two-hundred day moving average price of $342.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $192.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The firm had revenue of $16.70 billion during the quarter, compared to analyst estimates of $16.64 billion. During the same quarter last year, the firm earned $2.77 EPS. Accenture’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts expect that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.92%. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Insiders Place Their Bets

In other Accenture news, insider Angela Beatty sold 169 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.90, for a total transaction of $47,641.10. Following the transaction, the insider now owns 5,364 shares of the company’s stock, valued at $1,512,111.60. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now directly owns 17,237 shares in the company, valued at approximately $4,857,041.86. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,016 shares of company stock valued at $1,694,866 in the last quarter. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACN. BMO Capital Markets lifted their price objective on Accenture to $355.00 and gave the company a “hold” rating in a research note on Wednesday, March 26th. Piper Sandler decreased their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. StockNews.com cut Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research note on Monday, March 17th. Finally, Barclays decreased their price objective on Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.82.

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.