8,000 Shares in Accenture plc (NYSE:ACN) Bought by Bayesian Capital Management LP

Bayesian Capital Management LP bought a new position in shares of Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,000 shares of the information technology services provider’s stock, valued at approximately $2,814,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FPC Investment Advisory Inc. lifted its stake in shares of Accenture by 62.2% in the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after acquiring an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in Accenture during the 4th quarter worth approximately $30,000. POM Investment Strategies LLC lifted its position in shares of Accenture by 64.2% in the 4th quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 34 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Accenture in the 4th quarter valued at $34,000. Finally, Promus Capital LLC bought a new position in Accenture during the fourth quarter worth $34,000. 75.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 169 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. The trade was a 3.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.46, for a total transaction of $91,514.72. Following the sale, the chief accounting officer now owns 8,915 shares of the company’s stock, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,041 shares of company stock valued at $5,254,956. Insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

ACN has been the topic of a number of research analyst reports. Guggenheim cut their price target on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Mizuho decreased their target price on Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research note on Wednesday, March 19th. Piper Sandler dropped their price target on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a research report on Monday, March 17th. Finally, BMO Capital Markets boosted their target price on shares of Accenture to $355.00 and gave the company a “hold” rating in a research report on Wednesday, March 26th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.82.

Accenture Trading Up 1.7 %

NYSE ACN opened at $305.49 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $191.34 billion, a P/E ratio of 25.63, a PEG ratio of 3.23 and a beta of 1.32. The business has a fifty day simple moving average of $308.74 and a 200 day simple moving average of $344.83. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $2.77 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. On average, 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. Investors 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 yield of 1.94%. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

Accenture 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.