Wynn Capital LLC Invests $503,000 in Accenture plc (NYSE:ACN)

Wynn Capital LLC acquired a new stake in shares of Accenture plc (NYSE:ACN) in the 4th quarter, Holdings Channel reports. The firm acquired 1,432 shares of the information technology services provider’s stock, valued at approximately $503,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Accenture by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after purchasing an additional 720,647 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Accenture by 34.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,374,492 shares of the information technology services provider’s stock valued at $729,230,000 after acquiring an additional 611,376 shares during the period. Alphinity Investment Management Pty Ltd lifted its stake in Accenture by 71.4% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,388,701 shares of the information technology services provider’s stock valued at $487,309,000 after acquiring an additional 578,610 shares during the period. International Assets Investment Management LLC lifted its stake in Accenture by 33,484.1% during the 4th quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock valued at $199,167,000 after acquiring an additional 565,882 shares during the period. Finally, FMR LLC lifted its stake in Accenture by 4.4% during the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock valued at $4,089,485,000 after acquiring an additional 565,505 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACN. Bank of America boosted their price target on shares of Accenture from $379.00 to $419.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Susquehanna reissued a “neutral” rating and set a $360.00 price target (down previously from $400.00) on shares of Accenture in a research report on Thursday, March 21st. StockNews.com raised shares of Accenture from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Piper Sandler raised their price objective on shares of Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Finally, Redburn Atlantic raised their target price on shares of Accenture from $410.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $387.00.

Insider Transactions at Accenture

In other news, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $316.12, for a total value of $1,369,747.96. Following the sale, the general counsel now directly owns 30,702 shares in the company, valued at $9,705,516.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the completion of the transaction, the general counsel now directly owns 30,702 shares of the company’s stock, valued at approximately $9,705,516.24. The disclosure for this sale can be found here. Insiders sold a total of 39,833 shares of company stock worth $13,645,871 over the last 90 days. 0.07% of the stock is owned by insiders.

Accenture Price Performance

Accenture stock traded down $3.29 during mid-day trading on Wednesday, hitting $313.54. The company’s stock had a trading volume of 4,125,479 shares, compared to its average volume of 2,408,188. The firm’s 50 day moving average is $353.29 and its 200 day moving average is $342.40. The company has a market cap of $210.30 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.01 and a beta of 1.19. Accenture plc has a 52-week low of $261.68 and a 52-week high of $387.51.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $2.69 EPS. As a group, analysts forecast that Accenture plc will post 12.09 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be given a dividend of $1.29 per share. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.65%. Accenture’s payout ratio is currently 46.78%.

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.