Accenture plc (NYSE:ACN) is North Point Portfolio Managers Corp OH’s 2nd Largest Position

North Point Portfolio Managers Corp OH cut its stake in Accenture plc (NYSE:ACNFree Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,780 shares of the information technology services provider’s stock after selling 603 shares during the period. Accenture comprises approximately 4.0% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 2nd largest position. North Point Portfolio Managers Corp OH’s holdings in Accenture were worth $22,030,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Foundation Advisors lifted its holdings in shares of Accenture by 6.8% in the second quarter. First Foundation Advisors now owns 11,574 shares of the information technology services provider’s stock valued at $3,572,000 after purchasing an additional 741 shares in the last quarter. BOKF NA increased its position in shares of Accenture by 0.6% in the second quarter. BOKF NA now owns 45,759 shares of the information technology services provider’s stock worth $14,120,000 after acquiring an additional 276 shares in the last quarter. New Republic Capital LLC acquired a new stake in shares of Accenture in the second quarter worth $606,000. Ameriprise Financial Inc. grew its holdings in Accenture by 2.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock valued at $1,315,832,000 after purchasing an additional 96,414 shares in the last quarter. Finally, Redwood Investments LLC grew its holdings in Accenture by 8.3% during the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock valued at $7,098,000 after purchasing an additional 1,542 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Accenture Stock Performance

Shares of ACN stock traded down $0.61 during mid-day trading on Wednesday, reaching $335.85. The company’s stock had a trading volume of 375,121 shares, compared to its average volume of 2,274,993. Accenture plc has a 1-year low of $261.68 and a 1-year high of $387.51. The company has a market cap of $225.27 billion, a P/E ratio of 30.50, a PEG ratio of 3.21 and a beta of 1.19. The firm’s 50-day moving average is $367.29 and its two-hundred day moving average is $341.25.

Accenture (NYSE:ACNGet Free Report) last announced its 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 business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.85 billion. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company posted $2.69 EPS. Sell-side analysts anticipate that Accenture plc will post 12.1 EPS for the current year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th will be issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ACN shares. StockNews.com downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Guggenheim began coverage on shares of Accenture in a research note on Tuesday, March 19th. They issued a “buy” rating and a $425.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Royal Bank of Canada lifted their target price on shares of Accenture from $374.00 to $381.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. Finally, BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price on the stock in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $387.00.

Check Out Our Latest Stock Analysis on ACN

Insiders Place Their Bets

In other Accenture news, CFO Kathleen R. Mcclure sold 851 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $371.77, for a total transaction of $316,376.27. Following the sale, the chief financial officer now owns 50,737 shares of the company’s stock, valued at approximately $18,862,494.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Kathleen R. Mcclure sold 851 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $371.77, for a total value of $316,376.27. Following the transaction, the chief financial officer now owns 50,737 shares of the company’s stock, valued at approximately $18,862,494.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $371.83, for a total transaction of $1,611,139.39. Following the completion of the transaction, the general counsel now directly owns 34,795 shares in the company, valued at approximately $12,937,824.85. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $11,146,998 in the last 90 days. 0.07% of the stock is currently owned by insiders.

Accenture Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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