Iron Financial LLC bought a new position in Accenture plc (NYSE:ACN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,204 shares of the information technology services provider’s stock, valued at approximately $314,000.
Other large investors also recently bought and sold shares of the company. Clear Harbor Asset Management LLC bought a new stake in Accenture in the 3rd quarter worth approximately $25,000. Asset Dedication LLC grew its position in shares of Accenture by 48.9% during the third quarter. Asset Dedication LLC now owns 140 shares of the information technology services provider’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Accenture during the third quarter worth approximately $2,059,000. Demars Financial Group LLC acquired a new stake in shares of Accenture during the second quarter worth approximately $32,000. Finally, Fiduciary Planning LLC acquired a new stake in shares of Accenture during the third quarter worth approximately $34,000. 70.99% of the stock is owned by institutional investors and hedge funds.
Shares of ACN stock traded down $1.32 on Wednesday, reaching $257.08. 1,870,724 shares of the stock were exchanged, compared to its average volume of 2,055,328. Accenture plc has a twelve month low of $137.15 and a twelve month high of $271.18. The company has a market capitalization of $169.39 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 3.21 and a beta of 1.08. The business’s 50 day moving average price is $255.04 and its 200 day moving average price is $235.25.
Accenture (NYSE:ACN) last announced its quarterly earnings results on Wednesday, December 16th. The information technology services provider reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.12. Accenture had a net margin of 11.74% and a return on equity of 29.32%. The firm had revenue of $11.76 billion during the quarter, compared to analysts’ expectations of $11.36 billion. During the same period in the previous year, the company earned $2.09 earnings per share. Accenture’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Accenture plc will post 8.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Thursday, January 14th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Wednesday, January 13th. Accenture’s dividend payout ratio is currently 47.18%.
In other Accenture news, CAO Richard P. Clark sold 1,847 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $230.59, for a total value of $425,899.73. Following the completion of the sale, the chief accounting officer now owns 12,225 shares of the company’s stock, valued at $2,818,962.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Johan Deblaere sold 3,000 shares of the firm’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $230.27, for a total transaction of $690,810.00. Following the sale, the chief operating officer now directly owns 62,486 shares of the company’s stock, valued at $14,388,651.22. The disclosure for this sale can be found here. Insiders have sold a total of 3,731,766 shares of company stock valued at $158,408,073 in the last quarter. Company insiders own 0.07% of the company’s stock.
A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Accenture from $222.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 22nd. The Goldman Sachs Group initiated coverage on Accenture in a research note on Thursday, November 19th. They set a “buy” rating and a $278.00 price objective on the stock. Piper Sandler raised their price objective on Accenture from $210.00 to $282.00 and gave the stock a “neutral” rating in a research note on Friday, December 18th. 140166 cut Accenture from a “positive” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a research note on Monday, December 7th. Finally, Citigroup raised their price objective on Accenture from $247.00 to $269.00 and gave the stock a “buy” rating in a research note on Sunday, September 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $248.07.
Accenture plc, a professional services company, provides strategy and consulting, interactive, and technology and operations services worldwide. The company also provides outsourcing services. It serves communications, media, high tech, software, and platform companies; banking, capital market, and insurance industries; and consumer goods, retail, travel services, industrial, and life science industries, as well as clients in health, public service, chemicals and natural resources, energy, and utilities sectors.
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