Abel Hall LLC Acquires Shares of 591 Accenture plc (NYSE:ACN)

Abel Hall LLC purchased a new position in shares of Accenture plc (NYSE:ACN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 591 shares of the information technology services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACN. Morse Asset Management Inc bought a new stake in Accenture during the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Accenture during the third quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Accenture in the fourth quarter valued at approximately $34,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after purchasing an additional 85 shares during the period. Finally, Berbice Capital Management LLC bought a new stake in Accenture during the 4th quarter valued at $35,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Trading Down 0.9 %

Shares of NYSE:ACN opened at $375.13 on Thursday. The business has a 50-day moving average price of $358.27 and a 200-day moving average price of $349.02. The stock has a market cap of $234.75 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 3.20 and a beta of 1.24. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last announced its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.27 EPS. Equities analysts predict that Accenture plc will post 12.69 EPS for the current year.

Accenture Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.58%. Accenture’s payout ratio is 49.66%.

Insider Activity at Accenture

In other news, CEO Ryoji Sekido sold 3,191 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the sale, the chief executive officer now directly owns 6 shares in the company, valued at $2,062.20. This trade represents a 99.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total value of $527,200.98. Following the completion of the transaction, the chief accounting officer now directly owns 9,247 shares of the company’s stock, valued at $3,278,431.38. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,446 shares of company stock worth $5,852,848. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ACN has been the topic of several research reports. Jefferies Financial Group cut their price target on Accenture from $385.00 to $355.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. UBS Group boosted their price target on shares of Accenture from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, December 20th. Wolfe Research upgraded shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, BNP Paribas cut Accenture from an “outperform” rating to a “neutral” rating and set a $375.00 target price on the stock. in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $383.74.

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.