Single Point Partners LLC Cuts Stake in Accenture plc (NYSE:ACN)

Single Point Partners LLC lessened its holdings in Accenture plc (NYSE:ACN) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,443 shares of the information technology services provider’s stock after selling 271 shares during the quarter. Single Point Partners LLC’s holdings in Accenture were worth $1,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. increased its position in shares of Accenture by 62.2% in the fourth 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. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture in the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $30,000. POM Investment Strategies LLC boosted its holdings in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in Accenture in the 4th quarter worth $31,000. 75.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Accenture

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the completion of the sale, the chief executive officer now owns 9,965 shares of the company’s stock, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $47,641.10. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,516 shares of company stock worth $2,507,366. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

ACN has been the topic of several research analyst reports. Baird R W upgraded shares of Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen cut Accenture from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their price objective on Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a report on Monday, March 17th. UBS Group restated a “buy” rating and set a $395.00 target price (up previously from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Accenture presently has a consensus rating of “Moderate Buy” and an average target price of $382.14.

Accenture Stock Performance

Shares of ACN opened at $317.49 on Monday. The company has a market cap of $198.85 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 3.23 and a beta of 1.33. The business’s fifty day simple moving average is $303.15 and its two-hundred day simple moving average is $336.95. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same period last year, the firm posted $2.77 earnings per share. Accenture’s revenue was up 5.7% compared to the same quarter last year. Research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

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

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.