TrinityPoint Wealth LLC Has $1.52 Million Stake in Accenture plc (NYSE:ACN)

TrinityPoint Wealth LLC raised its stake in Accenture plc (NYSE:ACN) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,324 shares of the information technology services provider’s stock after buying an additional 184 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Accenture were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ACN. Ritholtz Wealth Management lifted its stake in Accenture by 17.3% in the fourth quarter. Ritholtz Wealth Management now owns 6,097 shares of the information technology services provider’s stock valued at $2,145,000 after buying an additional 899 shares during the period. Boston Common Asset Management LLC raised its position in shares of Accenture by 7.3% during the fourth quarter. Boston Common Asset Management LLC now owns 23,988 shares of the information technology services provider’s stock worth $8,439,000 after purchasing an additional 1,635 shares during the period. Merit Financial Group LLC raised its position in shares of Accenture by 212.3% during the fourth quarter. Merit Financial Group LLC now owns 14,212 shares of the information technology services provider’s stock worth $5,000,000 after purchasing an additional 9,661 shares during the period. Somerset Trust Co raised its position in shares of Accenture by 1.9% during the fourth quarter. Somerset Trust Co now owns 12,890 shares of the information technology services provider’s stock worth $4,535,000 after purchasing an additional 240 shares during the period. Finally, Brooklyn Investment Group raised its position in shares of Accenture by 5.0% during the fourth quarter. Brooklyn Investment Group now owns 5,965 shares of the information technology services provider’s stock worth $2,098,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Performance

Shares of NYSE ACN opened at $317.45 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. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The stock has a 50 day moving average of $302.60 and a 200-day moving average of $341.18. The company has a market capitalization of $198.83 billion, a P/E ratio of 26.63, a P/E/G ratio of 3.23 and a beta of 1.35.

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 research analysts predict that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.86%. Accenture’s dividend payout ratio is currently 48.89%.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of Accenture stock in a transaction on Friday, April 11th. The shares were 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 directly owns 17,237 shares of the company’s stock, valued at $4,857,041.86. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock worth $2,507,366 in the last ninety days. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Mizuho dropped their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 19th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Guggenheim dropped their target price on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group dropped their target price on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Baird R W raised Accenture from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $381.76.

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.