Sage Mountain Advisors LLC Raises Stock Holdings in Accenture plc (NYSE:ACN)

Sage Mountain Advisors LLC boosted its holdings in Accenture plc (NYSE:ACN) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,746 shares of the information technology services provider’s stock after purchasing an additional 216 shares during the period. Sage Mountain Advisors LLC’s holdings in Accenture were worth $1,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACN. International Assets Investment Management LLC boosted its holdings in Accenture by 3.2% in the third quarter. International Assets Investment Management LLC now owns 1,690 shares of the information technology services provider’s stock valued at $531,000 after purchasing an additional 52 shares during the last quarter. RFG Advisory LLC raised its stake in Accenture by 3.1% during the third quarter. RFG Advisory LLC now owns 3,278 shares of the information technology services provider’s stock valued at $1,007,000 after buying an additional 100 shares in the last quarter. Rothschild Investment LLC IL raised its stake in Accenture by 26.1% during the third quarter. Rothschild Investment LLC IL now owns 986 shares of the information technology services provider’s stock valued at $303,000 after buying an additional 204 shares in the last quarter. McBroom & Associates LLC raised its stake in Accenture by 5.8% during the third quarter. McBroom & Associates LLC now owns 17,671 shares of the information technology services provider’s stock valued at $5,427,000 after buying an additional 973 shares in the last quarter. Finally, Ziegler Capital Management LLC raised its stake in Accenture by 42.3% during the third quarter. Ziegler Capital Management LLC now owns 41,383 shares of the information technology services provider’s stock valued at $12,709,000 after buying an additional 12,302 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACN. Bank of America upped their price objective on Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Royal Bank of Canada upped their price objective on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Guggenheim assumed coverage on Accenture in a research report on Tuesday, March 19th. They set a “buy” rating and a $425.00 price target on the stock. Stifel Nicolaus increased their price target on Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, BMO Capital Markets dropped their price target on Accenture from $385.00 to $375.00 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $387.00.

Accenture Stock Up 0.4 %

NYSE ACN traded up $1.26 on Monday, reaching $318.14. 1,380,216 shares of the stock traded hands, compared to its average volume of 2,376,624. The firm’s fifty day simple moving average is $355.21 and its 200 day simple moving average is $342.31. The company has a market cap of $213.39 billion, a price-to-earnings ratio of 28.73, a P/E/G ratio of 3.00 and a beta of 1.19. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last issued its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $2.69 EPS. As a group, equities research analysts forecast that Accenture plc will post 12.09 EPS for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio is presently 46.78%.

Insider Transactions at Accenture

In other news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the sale, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 851 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $371.77, for a total value of $316,376.27. Following the sale, the chief financial officer now directly owns 50,737 shares of the company’s stock, valued at $18,862,494.49. The disclosure for this sale can be found here. Insiders sold a total of 35,500 shares of company stock valued at $12,276,123 in the last three months. 0.07% of the stock is currently owned by corporate insiders.

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.