Accenture plc (NYSE:ACN) Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 61.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,321 shares of the information technology services provider’s stock after buying an additional 1,265 shares during the quarter. Convergence Investment Partners LLC’s holdings in Accenture were worth $1,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its holdings in Accenture by 180.0% during the fourth quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 45 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Accenture during the third quarter valued at $31,000. Halpern Financial Inc. purchased a new position in Accenture during the fourth quarter valued at $31,000. Valued Wealth Advisors LLC purchased a new position in Accenture during the fourth quarter valued at $50,000. Finally, Valley National Advisers Inc. lifted its holdings in Accenture by 40.3% during the third quarter. Valley National Advisers Inc. now owns 167 shares of the information technology services provider’s stock valued at $51,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Transactions at Accenture

In other news, CFO Kathleen R. Mcclure sold 851 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $371.77, for a total transaction of $316,376.27. Following the completion of the sale, the chief financial officer now owns 50,737 shares in the company, valued at approximately $18,862,494.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kathleen R. Mcclure sold 851 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $371.77, for a total transaction of $316,376.27. Following the completion of the sale, the chief financial officer now owns 50,737 shares in the company, valued at approximately $18,862,494.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Manish Sharma sold 1,486 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.39, for a total transaction of $550,399.54. Following the completion of the sale, the chief executive officer now owns 4,503 shares of the company’s stock, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,490 shares of company stock worth $10,592,664. 0.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of several research reports. TD Cowen decreased their price target on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. UBS Group raised their price target on shares of Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Guggenheim initiated coverage on shares of Accenture in a research note on Tuesday, March 19th. They issued a “buy” rating and a $425.00 price target on the stock. Piper Sandler raised their price target on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Finally, Bank of America raised their price target on shares of Accenture from $379.00 to $419.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Accenture Stock Down 0.3 %

Accenture stock traded down $0.99 during trading on Friday, reaching $308.01. The stock had a trading volume of 3,371,848 shares, compared to its average volume of 2,670,314. Accenture plc has a 52-week low of $261.68 and a 52-week high of $387.51. The business has a 50 day moving average price of $349.66 and a 200 day moving average price of $342.14. The stock has a market cap of $206.59 billion, a PE ratio of 27.92, a P/E/G ratio of 2.92 and a beta of 1.19.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same quarter in the previous year, the firm earned $2.69 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. On average, equities analysts predict that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.68%. Accenture’s dividend payout ratio is presently 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.