TCV Trust & Wealth Management Inc. Increases Position in Accenture plc (NYSE:ACN)

TCV Trust & Wealth Management Inc. lifted its position in Accenture plc (NYSE:ACN) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,722 shares of the information technology services provider’s stock after buying an additional 892 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Accenture were worth $10,808,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp grew its stake in Accenture by 1.8% during the 3rd quarter. State Street Corp now owns 27,400,836 shares of the information technology services provider’s stock worth $9,685,648,000 after buying an additional 471,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Accenture by 378.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,491,736 shares of the information technology services provider’s stock worth $1,941,219,000 after acquiring an additional 4,345,039 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Accenture by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,823,754 shares of the information technology services provider’s stock valued at $1,705,100,000 after acquiring an additional 56,937 shares in the last quarter. Swedbank AB raised its position in shares of Accenture by 47.5% in the 4th quarter. Swedbank AB now owns 3,763,690 shares of the information technology services provider’s stock valued at $1,324,029,000 after purchasing an additional 1,212,011 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Accenture by 1.5% during the 3rd quarter. Stifel Financial Corp now owns 1,892,409 shares of the information technology services provider’s stock worth $668,974,000 after purchasing an additional 28,491 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Accenture Trading Up 0.9 %

NYSE ACN opened at $390.21 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $244.19 billion, a P/E ratio of 32.74, a PEG ratio of 3.44 and a beta of 1.24. The firm’s 50-day moving average is $362.81 and its two-hundred day moving average is $352.74. Accenture plc has a 12 month low of $278.69 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.16. The firm had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $3.27 EPS. On average, sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Thursday, January 16th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, January 16th. Accenture’s payout ratio is 49.66%.

Insider Activity at Accenture

In other Accenture news, CFO Angie Y. Park sold 685 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total value of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at $3,073,892.12. The trade was a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Julie Spellman Sweet sold 8,793 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the sale, the chief executive officer now owns 11,858 shares in the company, valued at approximately $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,280 shares of company stock worth $8,316,190 in the last three months. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of research reports. The Goldman Sachs Group raised Accenture from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $370.00 to $420.00 in a report on Friday, December 6th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 8th. BNP Paribas cut shares of Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price for the company. in a report on Wednesday, October 30th. Piper Sandler boosted their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets lifted their price objective on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $387.22.

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.