Interval Partners LP Takes $2.24 Million Position in Accenture plc (NYSE:ACN)

Interval Partners LP acquired a new position in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,371 shares of the information technology services provider’s stock, valued at approximately $2,241,000.

Other large investors have also added to or reduced their stakes in the company. Baldwin Wealth Partners LLC MA boosted its position in Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock worth $22,314,000 after purchasing an additional 3,883 shares during the period. Davidson Trust Co. lifted its holdings in shares of Accenture by 7.4% in the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock worth $812,000 after acquiring an additional 158 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Accenture by 37.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock worth $1,088,000 after acquiring an additional 843 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of Accenture by 127.1% in the 4th quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock worth $817,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Accenture by 16.8% in the fourth quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock worth $4,325,526,000 after buying an additional 1,770,024 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the business’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total transaction of $643,242.92. Following the sale, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. The trade was a 18.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Beatty sold 169 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares in the company, valued at approximately $1,512,111.60. This represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,016 shares of company stock worth $1,694,866. 0.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on ACN. Jefferies Financial Group decreased their target price on shares of Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley reduced their target price on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a research report on Monday, March 17th. Baird R W raised shares of Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Barclays cut their price objective on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, UBS Group lowered their target price on shares of Accenture from $455.00 to $387.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $377.82.

Accenture Trading Down 0.3%

ACN stock opened at $307.85 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a fifty day moving average price of $304.36 and a 200 day moving average price of $342.35. The firm has a market cap of $192.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. The business had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $2.77 earnings per share. Sell-side analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a $1.48 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.92%. Accenture’s dividend payout ratio is presently 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.