Accenture plc (NYSE:ACN) Shares Acquired by McAdam LLC

McAdam LLC boosted its position in shares of Accenture plc (NYSE:ACN) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,218 shares of the information technology services provider’s stock after buying an additional 74 shares during the period. McAdam LLC’s holdings in Accenture were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Brookstone Capital Management lifted its stake in Accenture by 171.8% in the 3rd quarter. Brookstone Capital Management now owns 6,718 shares of the information technology services provider’s stock worth $2,035,000 after purchasing an additional 4,246 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Accenture by 1.5% during the third quarter. Commonwealth Equity Services LLC now owns 197,376 shares of the information technology services provider’s stock worth $60,616,000 after buying an additional 2,896 shares during the last quarter. Compagnie Lombard Odier SCmA grew its holdings in Accenture by 6.2% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 5,351 shares of the information technology services provider’s stock valued at $1,643,000 after buying an additional 314 shares in the last quarter. RMR Wealth Builders raised its holdings in shares of Accenture by 467.3% during the 3rd quarter. RMR Wealth Builders now owns 3,892 shares of the information technology services provider’s stock worth $1,195,000 after acquiring an additional 3,206 shares during the period. Finally, Suncoast Equity Management boosted its position in shares of Accenture by 2.2% during the 3rd quarter. Suncoast Equity Management now owns 125,378 shares of the information technology services provider’s stock valued at $38,505,000 after acquiring an additional 2,686 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ACN. BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price for the company in a research note on Wednesday, January 17th. Royal Bank of Canada increased their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Stifel Nicolaus upped their price objective on shares of Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a report on Monday, March 18th. BMO Capital Markets dropped their target price on shares of Accenture from $385.00 to $375.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Finally, TD Cowen lowered their price target on Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Accenture has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Insider Activity at Accenture

In related news, CEO Manish Sharma sold 1,486 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the completion of the sale, the chief executive officer now owns 4,503 shares in the company, valued at $1,667,866.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the transaction, the chief operating officer now directly owns 17,877 shares of the company’s stock, valued at $5,937,488.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Manish Sharma sold 1,486 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $370.39, for a total value of $550,399.54. Following the sale, the chief executive officer now directly owns 4,503 shares in the company, valued at approximately $1,667,866.17. The disclosure for this sale can be found here. Insiders have sold a total of 31,639 shares of company stock worth $10,276,287 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Accenture Stock Performance

Shares of Accenture stock opened at $303.16 on Tuesday. The company has a market capitalization of $203.34 billion, a P/E ratio of 27.49, a PEG ratio of 2.92 and a beta of 1.19. Accenture plc has a 1 year low of $261.68 and a 1 year high of $387.51. The company’s fifty day moving average is $348.33 and its two-hundred day moving average is $342.34.

Accenture (NYSE:ACN) last released its quarterly earnings results on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.11. The firm had revenue of $15.80 billion for 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 business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $2.69 earnings per share. As a group, equities analysts expect that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be issued a $1.29 dividend. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 annualized dividend and a dividend yield of 1.70%. Accenture’s dividend payout ratio is currently 46.78%.

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.