Mattern Capital Management LLC Purchases 259 Shares of Accenture PLC (NYSE:ACN)

Mattern Capital Management LLC lifted its position in Accenture PLC (NYSE:ACN) by 0.9% during the 1st quarter, Holdings Channel reports. The firm owned 28,932 shares of the information technology services provider’s stock after buying an additional 259 shares during the quarter. Mattern Capital Management LLC’s holdings in Accenture were worth $9,028,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Accenture by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider’s stock worth $21,246,236,000 after purchasing an additional 392,183 shares during the last quarter. Geode Capital Management LLC grew its holdings in Accenture by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider’s stock worth $4,750,021,000 after acquiring an additional 136,665 shares during the last quarter. Capital Research Global Investors grew its holdings in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock worth $4,325,526,000 after acquiring an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP grew its holdings in Accenture by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock worth $4,283,225,000 after acquiring an additional 2,260,740 shares during the last quarter. Finally, Capital International Investors grew its holdings in Accenture by 2.2% during the 4th quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider’s stock worth $2,994,922,000 after acquiring an additional 181,449 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of NYSE:ACN opened at $300.66 on Wednesday. The company has a market capitalization of $188.31 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 2.94 and a beta of 1.33. The firm’s 50 day simple moving average is $307.33 and its 200 day simple moving average is $332.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. Accenture PLC has a fifty-two week low of $273.19 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.17. The business had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. Accenture had a net margin of 11.61% and a return on equity of 26.55%. Accenture’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the company posted $3.13 EPS. As a group, sell-side analysts forecast that Accenture PLC will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 1.97%. Accenture’s dividend payout ratio (DPR) is currently 47.13%.

Insiders Place Their Bets

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now directly owns 9,965 shares in the company, valued at approximately $2,806,442.95. This trade represents a 18.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Joel Unruch sold 3,563 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the sale, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,516 shares of company stock worth $2,507,366. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ACN shares. Mizuho decreased their price objective on shares of Accenture from $365.00 to $348.00 and set an “outperform” rating on the stock in a report on Tuesday. Stifel Nicolaus decreased their price objective on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their price objective on shares of Accenture from $390.00 to $360.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group restated a “buy” rating and set a $395.00 target price (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada cut their target price on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Seven investment analysts have rated the stock with a hold rating, fourteen 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 an average rating of “Moderate Buy” and an average target price of $370.75.

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.