Sone Capital Management LLC Invests $6.19 Million in Accenture plc (NYSE:ACN)

Sone Capital Management LLC purchased a new stake in shares of Accenture plc (NYSE:ACN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 17,581 shares of the information technology services provider’s stock, valued at approximately $6,185,000.

Other large investors have also added to or reduced their stakes in the company. Visionary Wealth Advisors grew its holdings in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock valued at $274,000 after purchasing an additional 26 shares in the last quarter. Vivaldi Capital Management LP grew its stake in shares of Accenture by 3.6% in the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after buying an additional 27 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Accenture by 5.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 518 shares of the information technology services provider’s stock worth $182,000 after buying an additional 28 shares during the last quarter. FPC Investment Advisory Inc. raised its position in shares of 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 buying an additional 28 shares in the last quarter. Finally, New England Professional Planning Group Inc. grew its position in Accenture by 4.6% in the fourth quarter. New England Professional Planning Group Inc. now owns 655 shares of the information technology services provider’s stock worth $230,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho lowered their price objective on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. Piper Sandler lowered their price target on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Jefferies Financial Group cut their price target on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $381.76.

Accenture Stock Down 1.8%

Shares of NYSE:ACN opened at $317.45 on Monday. The business’s 50 day moving average is $302.60 and its 200 day moving average is $341.15. The stock has a market cap of $198.83 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.01. The business had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.77 EPS. Sell-side analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.86%. Accenture’s dividend payout ratio is currently 48.89%.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 169 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.63, for a total value of $643,242.92. Following the sale, the chief executive officer now directly owns 9,965 shares in the company, valued at $2,806,442.95. This trade represents a 18.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,516 shares of company stock valued at $2,507,366. Company insiders own 0.02% of the company’s stock.

About Accenture

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.