Alpha Omega Wealth Management LLC Sells 87 Shares of Accenture plc (NYSE:ACN)

Alpha Omega Wealth Management LLC trimmed its position in shares of Accenture plc (NYSE:ACN) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,735 shares of the information technology services provider’s stock after selling 87 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Accenture were worth $1,790,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ACN. FPC Investment Advisory Inc. grew its position in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock worth $28,000 after purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture during the 4th quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Accenture in the fourth quarter valued at approximately $30,000. POM Investment Strategies LLC raised its position in Accenture by 64.2% in 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, Park Square Financial Group LLC acquired a new position in Accenture during the 4th quarter worth about $31,000. Institutional investors own 75.14% of the company’s stock.

Accenture Stock Up 1.3%

Shares of ACN opened at $320.79 on Wednesday. Accenture plc has a 52 week low of $275.01 and a 52 week high of $398.35. The firm has a market cap of $200.92 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 3.23 and a beta of 1.33. The firm’s 50-day simple moving average is $303.55 and its 200 day simple moving average is $336.54. 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 earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $16.64 billion. During the same quarter in the previous year, the business posted $2.77 earnings per share. Accenture’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts forecast that Accenture plc will post 12.73 earnings per share for the current year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, April 10th. Accenture’s dividend payout ratio (DPR) is presently 48.89%.

Insider Transactions at Accenture

In other Accenture news, General Counsel Joel Unruch sold 3,563 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the completion of the transaction, the general counsel now owns 17,237 shares of the company’s stock, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Beatty sold 169 shares of the firm’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 transaction of $47,641.10. Following the completion of the transaction, the insider now owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,516 shares of company stock valued at $2,507,366. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group reiterated a “buy” rating and issued a $395.00 price objective (up from $390.00) on shares of Accenture in a research report on Thursday, May 22nd. Piper Sandler lowered their target price on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Barclays cut their price objective on Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. BMO Capital Markets upped their target price on shares of Accenture to $355.00 and gave the stock a “hold” rating in a research note on Wednesday, March 26th. Finally, Stifel Nicolaus reduced their price target on Accenture from $390.00 to $380.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $382.14.

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.