Drake & Associates LLC Purchases 606 Shares of Accenture plc (NYSE:ACN)

Drake & Associates LLC lifted its stake in Accenture plc (NYSE:ACNFree Report) by 38.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,185 shares of the information technology services provider’s stock after purchasing an additional 606 shares during the quarter. Accenture comprises approximately 0.3% of Drake & Associates LLC’s holdings, making the stock its 26th largest position. Drake & Associates LLC’s holdings in Accenture were worth $767,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ACN. Ameriprise Financial Inc. raised its stake 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 buying an additional 96,414 shares during the last quarter. Redwood Investments LLC increased its stake in shares of Accenture by 8.3% in the 4th quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after purchasing an additional 1,542 shares in the last quarter. Dash Acquisitions Inc. increased its stake in shares of Accenture by 1.0% in the 3rd quarter. Dash Acquisitions Inc. now owns 34,043 shares of the information technology services provider’s stock worth $10,361,000 after purchasing an additional 330 shares in the last quarter. Chicago Capital LLC increased its stake in shares of Accenture by 284.7% in the 4th quarter. Chicago Capital LLC now owns 12,677 shares of the information technology services provider’s stock worth $4,449,000 after purchasing an additional 9,382 shares in the last quarter. Finally, Fortress Wealth Group LLC increased its stake in shares of Accenture by 5.4% in the 3rd quarter. Fortress Wealth Group LLC now owns 1,220 shares of the information technology services provider’s stock worth $374,000 after purchasing an additional 62 shares in the last quarter. 75.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACN has been the subject of several analyst reports. Morgan Stanley upped their price objective on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research note 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. Robert W. Baird upped their target price on shares of Accenture from $364.00 to $375.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. BNP Paribas raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 target price for the company in a report on Wednesday, January 17th. Finally, UBS Group lifted their target price on Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. 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.com, Accenture has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Check Out Our Latest Analysis on ACN

Accenture Trading Up 0.4 %

Shares of ACN stock traded up $1.27 during trading hours on Monday, reaching $316.67. 760,604 shares of the company’s stock were exchanged, compared to its average volume of 2,324,665. The stock’s 50 day moving average is $360.55 and its 200-day moving average is $342.00. The company has a market cap of $212.40 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.99 and a beta of 1.19. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51.

Accenture (NYSE:ACNGet Free Report) 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, topping analysts’ consensus estimates of $2.66 by $0.11. The business had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 earnings per share. Equities analysts anticipate that Accenture plc will post 12.09 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, April 10th. Accenture’s payout ratio is 46.78%.

Insider Activity at Accenture

In other Accenture news, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.83, for a total value of $1,611,139.39. Following the sale, the general counsel now directly owns 34,795 shares of the company’s stock, valued at $12,937,824.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Joel Unruch sold 4,333 shares of the 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 sale, the general counsel now directly owns 34,795 shares of the company’s stock, valued at approximately $12,937,824.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $371.81, for a total transaction of $1,859,050.00. Following the transaction, the insider now owns 20,316 shares of the company’s stock, valued at approximately $7,553,691.96. 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 ninety days. Company insiders own 0.07% of the company’s stock.

About Accenture

(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.

See Also

Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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