GAMMA Investing LLC Makes New $1.24 Million Investment in Accenture plc (NYSE:ACN)

GAMMA Investing LLC acquired a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,411 shares of the information technology services provider’s stock, valued at approximately $1,241,000.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in shares of Accenture by 2.3% during 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 buying an additional 96,414 shares during the period. Redwood Investments LLC boosted its stake in shares of Accenture by 8.3% during the fourth quarter. Redwood Investments LLC now owns 20,227 shares of the information technology services provider’s stock worth $7,098,000 after buying an additional 1,542 shares during the period. Chicago Capital LLC boosted its stake in shares of Accenture by 284.7% during the fourth quarter. Chicago Capital LLC now owns 12,677 shares of the information technology services provider’s stock worth $4,449,000 after buying an additional 9,382 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Accenture by 33,484.1% during the fourth quarter. International Assets Investment Management LLC now owns 567,572 shares of the information technology services provider’s stock worth $199,167,000 after buying an additional 565,882 shares during the period. Finally, VELA Investment Management LLC boosted its stake in shares of Accenture by 4.3% during the third quarter. VELA Investment Management LLC now owns 3,681 shares of the information technology services provider’s stock worth $1,130,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity at Accenture

In related news, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction on 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 transaction, the general counsel now owns 34,795 shares in the company, valued at approximately $12,937,824.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction on 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 transaction, the general counsel now owns 34,795 shares in the company, valued at approximately $12,937,824.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen R. Mcclure sold 851 shares of Accenture stock in a transaction on Monday, January 29th. The shares were sold at an average price of $371.77, for a total transaction of $316,376.27. Following the transaction, the chief financial officer now owns 50,737 shares in the company, valued at approximately $18,862,494.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,833 shares of company stock worth $13,645,871. 0.07% of the stock is currently owned by corporate insiders.

Accenture Trading Down 0.2 %

Shares of ACN traded down $0.62 during mid-day trading on Tuesday, reaching $316.80. The company had a trading volume of 2,000,140 shares, compared to its average volume of 2,386,068. The stock has a market cap of $212.49 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 3.00 and a beta of 1.19. The firm has a fifty day simple moving average of $354.21 and a 200-day simple moving average of $342.37. Accenture plc has a fifty-two week low of $261.68 and a fifty-two week high of $387.51.

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

Accenture Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.63%. Accenture’s dividend payout ratio (DPR) is presently 46.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup decreased their target price on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. UBS Group raised their price objective on shares of Accenture from $365.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. TD Cowen dropped their target price on shares of Accenture from $363.00 to $350.00 and set a “market perform” rating for the company in a report on Friday, March 22nd. Guggenheim assumed coverage on shares of Accenture in a report on Tuesday, March 19th. They issued a “buy” rating and a $425.00 target price for the company. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $360.00 target price (down from $400.00) on shares of Accenture in a report on Thursday, March 21st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.