Twin Capital Management Inc. Purchases New Holdings in Accenture plc (NYSE:ACN)

Twin Capital Management Inc. purchased a new stake in Accenture plc (NYSE:ACN) during the 4th quarter, Holdings Channel.com reports. The fund purchased 11,204 shares of the information technology services provider’s stock, valued at approximately $3,932,000.

Several other institutional investors have also recently added to or reduced their stakes in ACN. Chilton Capital Management LLC increased its position in Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 45 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Accenture in the 1st quarter valued at approximately $28,000. BluePath Capital Management LLC purchased a new stake in Accenture in the 3rd quarter valued at approximately $31,000. Halpern Financial Inc. purchased a new stake in Accenture in the 4th quarter valued at approximately $31,000. Finally, RVW Wealth LLC purchased a new stake in Accenture in the 3rd quarter valued at approximately $33,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

ACN traded up $0.96 during trading on Thursday, hitting $315.50. The company’s stock had a trading volume of 1,377,011 shares, compared to its average volume of 2,353,577. The firm’s 50 day moving average price is $357.35 and its 200-day moving average price is $341.95. The stock has a market cap of $211.62 billion, a PE ratio of 28.53, a PEG ratio of 2.98 and a beta of 1.19. Accenture plc has a twelve month low of $261.68 and a twelve month high of $387.51.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 21st. The information technology services provider reported $2.77 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 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 revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 EPS. Equities analysts anticipate that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 11th will be issued a dividend of $1.29 per share. The ex-dividend date is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.64%. Accenture’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACN shares. Piper Sandler lifted their price objective on Accenture from $335.00 to $394.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Citigroup lowered their price objective on Accenture from $430.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Redburn Atlantic boosted their price target on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. BNP Paribas raised Accenture from a “neutral” rating to an “outperform” rating and set a $440.00 price target on the stock in a research note on Wednesday, January 17th. Finally, TD Cowen decreased their price target on 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

Insider Buying and Selling

In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.81, for a total transaction of $1,859,050.00. Following the completion of the sale, the insider now directly owns 20,316 shares of the company’s stock, valued at approximately $7,553,691.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $371.81, for a total transaction of $1,859,050.00. Following the completion of the sale, the insider now directly owns 20,316 shares of the company’s stock, valued at approximately $7,553,691.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 4,333 shares of the company’s stock in a transaction on Friday, January 26th. The stock was 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 $12,937,824.85. The disclosure for this sale can be found here. In the last three months, insiders sold 41,750 shares of company stock valued at $14,543,436. Company 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.