Accenture plc (NYSE:ACN) Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc increased its position in shares of Accenture plc (NYSE:ACN) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,271 shares of the information technology services provider’s stock after acquiring an additional 121 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Accenture were worth $1,503,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc acquired a new position in shares of Accenture in the 3rd quarter worth approximately $25,000. FPC Investment Advisory Inc. boosted its stake in shares of Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after purchasing an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Accenture in the 4th quarter worth about $30,000. POM Investment Strategies LLC lifted its holdings in Accenture by 64.2% during the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Accenture during the fourth quarter worth about $34,000. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Angie Y. Park sold 685 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the sale, the chief financial officer now owns 8,674 shares of the company’s stock, valued at $3,073,892.12. This trade represents a 7.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 232 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total value of $91,514.72. Following the completion of the transaction, the chief accounting officer now owns 8,915 shares in the company, valued at approximately $3,516,610.90. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,905 shares of company stock valued at $8,181,753 over the last 90 days. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

Shares of Accenture stock traded down $10.33 during trading on Thursday, hitting $288.13. 822,005 shares of the stock were exchanged, compared to its average volume of 2,981,941. Accenture plc has a 1-year low of $275.01 and a 1-year high of $398.35. The stock has a market capitalization of $180.46 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The company has a fifty day moving average price of $340.78 and a 200-day moving average price of $352.78. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same period in the previous year, the company posted $2.77 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts predict that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

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. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.05%. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACN shares. Royal Bank of Canada decreased their price target on Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Stifel Nicolaus decreased their price target on shares of Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley dropped their price objective on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating for the company in a research report on Monday, March 17th. BMO Capital Markets boosted their target price on Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Finally, UBS Group lowered their price objective on Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $378.23.

About Accenture

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.