Interchange Capital Partners LLC Cuts Position in Accenture plc (NYSE:ACN)

Interchange Capital Partners LLC lowered its holdings in Accenture plc (NYSE:ACN) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 842 shares of the information technology services provider’s stock after selling 40 shares during the period. Interchange Capital Partners LLC’s holdings in Accenture were worth $296,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC grew its stake in shares of Accenture by 2.3% in the third quarter. Kingsview Wealth Management LLC now owns 10,787 shares of the information technology services provider’s stock valued at $3,813,000 after buying an additional 240 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Accenture by 17.6% during the third quarter. Larson Financial Group LLC now owns 1,114 shares of the information technology services provider’s stock valued at $394,000 after purchasing an additional 167 shares during the period. Cahill Financial Advisors Inc. lifted its position in shares of Accenture by 4.3% during the third quarter. Cahill Financial Advisors Inc. now owns 1,117 shares of the information technology services provider’s stock worth $395,000 after purchasing an additional 46 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Accenture by 21.4% in the third quarter. Summit Trail Advisors LLC now owns 6,182 shares of the information technology services provider’s stock valued at $2,185,000 after purchasing an additional 1,091 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its stake in Accenture by 1.4% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 262,276 shares of the information technology services provider’s stock worth $92,709,000 after buying an additional 3,735 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the sale, the chief accounting officer now owns 9,247 shares in the company, valued at $3,278,431.38. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of Accenture stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the transaction, the chief executive officer now directly 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 21,905 shares of company stock valued at $8,181,753 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Accenture Stock Up 0.6 %

Accenture stock opened at $307.24 on Tuesday. The firm has a market capitalization of $192.27 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.23 and a beta of 1.24. The company has a 50-day simple moving average of $358.32 and a 200-day simple moving average of $357.10. Accenture plc has a one year low of $278.69 and a one year high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47.

Accenture (NYSE:ACN) last announced its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company had revenue of $16.70 billion for the quarter, compared to analyst estimates of $16.64 billion. During the same quarter last year, the business earned $2.77 earnings per share. Accenture’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts expect that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is 48.89%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Accenture from $425.00 to $370.00 and set a “market perform” rating for the company in a research note on Tuesday, March 18th. Stifel Nicolaus dropped their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reduced their target price on Accenture from $396.00 to $364.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Royal Bank of Canada dropped their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.91.

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.