TRUE Private Wealth Advisors Boosts Stake in Accenture plc (NYSE:ACN)

TRUE Private Wealth Advisors lifted its holdings in Accenture plc (NYSE:ACN) by 26.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,544 shares of the information technology services provider’s stock after buying an additional 320 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Accenture were worth $542,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Accenture by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 58,434,025 shares of the information technology services provider’s stock worth $17,945,673,000 after buying an additional 184,541 shares during the period. State Street Corp grew its holdings in Accenture by 2.7% during the 1st quarter. State Street Corp now owns 26,453,884 shares of the information technology services provider’s stock worth $7,560,765,000 after acquiring an additional 704,657 shares in the last quarter. Morgan Stanley increased its position in Accenture by 14.9% during the 4th quarter. Morgan Stanley now owns 16,642,841 shares of the information technology services provider’s stock valued at $4,440,976,000 after purchasing an additional 2,163,582 shares during the period. FMR LLC lifted its position in shares of Accenture by 4.4% in the 3rd quarter. FMR LLC now owns 13,316,028 shares of the information technology services provider’s stock worth $4,089,485,000 after purchasing an additional 565,505 shares during the period. Finally, Wellington Management Group LLP raised its stake in Accenture by 7.0% in the third quarter. Wellington Management Group LLP now owns 11,034,666 shares of the information technology services provider’s stock worth $3,388,856,000 after buying an additional 720,647 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In related news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $332.13, for a total value of $2,657,040.00. Following the completion of the sale, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Jean-Marc Ollagnier sold 6,250 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the transaction, the chief executive officer now owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO John F. Walsh sold 8,000 shares of Accenture stock in a transaction dated 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 transaction, the chief operating officer now directly owns 17,877 shares in the company, valued at $5,937,488.01. The disclosure for this sale can be found here. Insiders sold 41,750 shares of company stock worth $14,543,436 over the last three months. 0.07% of the stock is currently owned by corporate insiders.

Accenture Trading Up 0.3 %

Accenture stock opened at $314.73 on Thursday. The firm has a market cap of $211.10 billion, a PE ratio of 28.53, a P/E/G ratio of 2.98 and a beta of 1.19. The stock’s 50 day simple moving average is $357.35 and its two-hundred day simple moving average is $341.95. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51.

Accenture (NYSE:ACN) last released its quarterly 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. Accenture had a net margin of 10.89% and a return on equity of 28.30%. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.85 billion. During the same quarter last year, the business earned $2.69 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. On average, equities research analysts forecast that Accenture plc will post 12.09 EPS for the current year.

Accenture Announces Dividend

The firm 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 $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, April 10th. Accenture’s payout ratio is currently 46.78%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACN. Susquehanna reiterated a “neutral” rating and issued a $360.00 price target (down from $400.00) on shares of Accenture in a report on Thursday, March 21st. Guggenheim began coverage on shares of Accenture in a report on Tuesday, March 19th. They issued a “buy” rating and a $425.00 price target on the stock. Stifel Nicolaus boosted their price objective 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. Robert W. Baird raised their target price on shares of Accenture from $364.00 to $375.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, Mizuho reiterated a “buy” rating and set a $398.00 price objective (down previously from $426.00) on shares of Accenture in a report on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $387.00.

Accenture Company 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.