Ticino Wealth Takes Position in Accenture PLC $ACN

Ticino Wealth purchased a new position in Accenture PLC (NYSE:ACN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,653 shares of the information technology services provider’s stock, valued at approximately $2,053,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in Accenture by 132.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 107 shares of the information technology services provider’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Triumph Capital Management acquired a new stake in Accenture in the third quarter worth about $26,000. Board of the Pension Protection Fund bought a new stake in shares of Accenture during the 4th quarter worth about $27,000. Davis Capital Management acquired a new stake in shares of Accenture in the 3rd quarter worth approximately $28,000. Finally, Private Wealth Management Group LLC raised its stake in shares of Accenture by 96.4% in the 4th quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock worth $29,000 after buying an additional 53 shares in the last quarter. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Rothschild & Co Redburn increased their price target on Accenture from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, January 5th. Morgan Stanley reduced their price objective on Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. TD Cowen dropped their target price on Accenture from $282.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Truist Financial lowered their price objective on shares of Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Finally, Mizuho decreased their target price on shares of Accenture from $309.00 to $280.00 and set an “outperform” rating for the company in a research note on Monday, March 23rd. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and an average price target of $274.50.

Accenture Price Performance

Shares of ACN stock opened at $195.62 on Tuesday. The stock’s fifty day simple moving average is $203.34 and its 200 day simple moving average is $239.47. Accenture PLC has a one year low of $177.50 and a one year high of $325.71. The firm has a market cap of $130.17 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.88 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34.

Accenture (NYSE:ACN) last announced its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $18.04 billion for the quarter, compared to the consensus estimate of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 EPS. On average, analysts expect that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, April 9th. Accenture’s payout ratio is presently 53.40%.

Insider Activity

In other news, General Counsel Joel Unruch sold 1,026 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $281.70, for a total transaction of $289,024.20. Following the transaction, the general counsel directly owned 27,181 shares of the company’s stock, valued at approximately $7,656,887.70. This trade represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 3,588 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $281.01, for a total value of $1,008,263.88. Following the completion of the transaction, the chief accounting officer owned 8,179 shares in the company, valued at $2,298,380.79. The trade was a 30.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 15,331 shares of company stock valued at $4,048,871. 0.02% of the stock is owned by insiders.

About Accenture

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.