Investment House LLC Lowers Stock Position in Accenture PLC $ACN

Investment House LLC lessened its holdings in Accenture PLC (NYSE:ACN) by 29.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,087 shares of the information technology services provider’s stock after selling 24,467 shares during the period. Investment House LLC’s holdings in Accenture were worth $15,853,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ACN. Triumph Capital Management purchased a new stake in Accenture during the third quarter valued at approximately $26,000. Board of the Pension Protection Fund purchased a new stake in Accenture during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC purchased a new stake in Accenture during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC lifted its position in Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock valued at $29,000 after acquiring an additional 53 shares during the last quarter. Finally, Steph & Co. lifted its position in Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In related news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total transaction of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

ACN has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on shares of Accenture in a research report on Thursday, January 22nd. They set a “buy” rating and a $313.00 target price for the company. Citigroup decreased their target price on shares of Accenture from $266.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Accenture from $280.00 to $230.00 and set a “hold” rating for the company in a research report on Friday, March 6th. Royal Bank Of Canada decreased their target price on shares of Accenture from $295.00 to $253.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Finally, Truist Financial cut their price target on shares of Accenture from $317.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and an average target price of $274.50.

Accenture Trading Down 0.6%

Shares of Accenture stock opened at $176.47 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a fifty day moving average price of $188.93 and a 200 day moving average price of $230.14. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $322.86. The stock has a market cap of $117.43 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08.

Accenture (NYSE:ACN) last issued its earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the company posted $2.82 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Accenture PLC will post 13.87 earnings per share for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 9th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is currently 53.40%.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.