Nisa Investment Advisors LLC Has $59.49 Million Stock Position in Accenture plc (NYSE:ACN)

Nisa Investment Advisors LLC reduced its position in Accenture plc (NYSE:ACN) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 169,523 shares of the information technology services provider’s stock after selling 1,170 shares during the period. Nisa Investment Advisors LLC’s holdings in Accenture were worth $59,487,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Brave Asset Management Inc. boosted its stake in shares of Accenture by 2.8% in the 4th quarter. Brave Asset Management Inc. now owns 1,028 shares of the information technology services provider’s stock valued at $361,000 after purchasing an additional 28 shares during the last quarter. KMG Fiduciary Partners LLC boosted its stake in shares of Accenture by 4.0% in the 4th quarter. KMG Fiduciary Partners LLC now owns 760 shares of the information technology services provider’s stock valued at $267,000 after purchasing an additional 29 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Accenture by 0.5% in the 4th quarter. Allworth Financial LP now owns 6,062 shares of the information technology services provider’s stock valued at $2,127,000 after purchasing an additional 30 shares during the last quarter. Jag Capital Management LLC boosted its stake in shares of Accenture by 0.3% in the 3rd quarter. Jag Capital Management LLC now owns 9,271 shares of the information technology services provider’s stock valued at $2,847,000 after purchasing an additional 31 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in shares of Accenture by 4.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 712 shares of the information technology services provider’s stock valued at $250,000 after purchasing an additional 31 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Price Performance

Shares of ACN stock traded up $2.53 on Friday, hitting $333.00. The stock had a trading volume of 3,578,854 shares, compared to its average volume of 2,985,086. The business has a 50 day moving average of $364.97 and a 200 day moving average of $341.40. The stock has a market cap of $223.36 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 3.16 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 announced its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $2.69 earnings per share. As a group, research analysts expect that Accenture plc will post 12.1 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be issued a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a yield of 1.55%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACN. Citigroup cut their target price on shares of Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. StockNews.com lowered shares of Accenture from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Robert W. Baird increased their target price on shares of Accenture from $364.00 to $375.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Stifel Nicolaus increased their target price on shares of Accenture from $363.00 to $395.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, TD Cowen cut their target price on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Accenture presently has an average rating of “Moderate Buy” and an average target price of $387.00.

Insider Buying and Selling

In related news, COO John F. Walsh sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were 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 owns 17,877 shares in the company, valued at $5,937,488.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Accenture news, COO John F. Walsh sold 8,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares in the company, valued at $5,937,488.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen R. Mcclure sold 2,070 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $370.32, for a total transaction of $766,562.40. Following the transaction, the chief financial officer now owns 47,110 shares of the company’s stock, valued at approximately $17,445,775.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,000 shares of company stock worth $11,146,998. Insiders own 0.07% of the company’s stock.

About Accenture

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.