Richardson Financial Services Inc. Takes $332,000 Position in Accenture plc (NYSE:ACN)

Richardson Financial Services Inc. purchased a new stake in Accenture plc (NYSE:ACNFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 946 shares of the information technology services provider’s stock, valued at approximately $332,000.

A number of other large investors have also made changes to their positions in the stock. McKinley Carter Wealth Services Inc. grew its position in Accenture by 7.4% in the fourth quarter. McKinley Carter Wealth Services Inc. now owns 29,204 shares of the information technology services provider’s stock worth $10,248,000 after acquiring an additional 2,008 shares during the period. TrinityPoint Wealth LLC grew its position in Accenture by 3.6% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,646 shares of the information technology services provider’s stock worth $1,279,000 after acquiring an additional 125 shares during the period. Buckingham Capital Management Inc. grew its position in Accenture by 3.4% in the fourth quarter. Buckingham Capital Management Inc. now owns 27,559 shares of the information technology services provider’s stock worth $9,671,000 after acquiring an additional 900 shares during the period. Ameriprise Financial Inc. grew its position in Accenture by 2.3% in the third quarter. Ameriprise Financial Inc. now owns 4,284,770 shares of the information technology services provider’s stock worth $1,315,832,000 after acquiring an additional 96,414 shares during the period. Finally, Redwood Investments LLC grew its position in Accenture by 8.3% in the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after acquiring an additional 1,542 shares during the period. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

ACN traded up $4.39 during trading on Friday, reaching $286.71. The company’s stock had a trading volume of 2,966,211 shares, compared to its average volume of 3,117,430. Accenture plc has a 52-week low of $278.69 and a 52-week high of $387.51. The company’s fifty day moving average price is $304.35 and its 200-day moving average price is $338.75. The company has a market capitalization of $192.31 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 3.12 and a beta of 1.21.

Accenture (NYSE:ACNGet Free Report) last announced its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. During the same quarter in the previous year, the company earned $2.69 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that Accenture plc will post 12.08 earnings per share for the current year.

Accenture Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th were given a dividend of $1.29 per share. The ex-dividend date was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.80%. Accenture’s payout ratio is 46.78%.

Insider Activity

In other news, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $316.00, for a total transaction of $1,422,000.00. Following the completion of the sale, the chief financial officer now directly owns 42,781 shares in the company, valued at approximately $13,518,796. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction that occurred on Monday, March 25th. The stock was 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 directly owns 17,877 shares in the company, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathleen R. Mcclure sold 4,500 shares of Accenture stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $316.00, for a total value of $1,422,000.00. Following the transaction, the chief financial officer now owns 42,781 shares of the company’s stock, valued at $13,518,796. The disclosure for this sale can be found here. In the last three months, insiders sold 28,083 shares of company stock worth $8,959,325. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

ACN has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered Accenture from a “buy” rating to a “hold” rating and lowered their price target for the stock from $409.00 to $295.00 in a research report on Wednesday, May 15th. Morgan Stanley raised their price target on Accenture from $400.00 to $417.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Mizuho restated a “buy” rating and set a $398.00 price target (down from $426.00) on shares of Accenture in a research report on Friday, March 22nd. Guggenheim restated a “buy” rating and set a $395.00 price target on shares of Accenture in a research report on Friday, May 24th. Finally, Susquehanna restated a “neutral” rating and set a $360.00 price target (down from $400.00) on shares of Accenture in a research report on Thursday, March 21st. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $367.50.

View Our Latest Stock Report on Accenture

Accenture 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.

Further Reading

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Institutional Ownership by Quarter for Accenture (NYSE:ACN)

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