1900 Wealth Management LLC Makes New Investment in Accenture plc (NYSE:ACN)

1900 Wealth Management LLC purchased a new position in Accenture plc (NYSE:ACN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 771 shares of the information technology services provider’s stock, valued at approximately $271,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC boosted its stake 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 worth $25,000 after buying an additional 45 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Accenture in the 3rd quarter worth about $31,000. Halpern Financial Inc. purchased a new position in shares of Accenture in the 4th quarter worth about $31,000. Valued Wealth Advisors LLC purchased a new position in shares of Accenture in the 4th quarter worth about $50,000. Finally, Valley National Advisers Inc. raised its holdings in shares of Accenture by 40.3% in the 3rd quarter. Valley National Advisers Inc. now owns 167 shares of the information technology services provider’s stock worth $51,000 after purchasing an additional 48 shares during the period. 75.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Accenture

In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on 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 sale, the insider now owns 20,316 shares of the company’s stock, valued at approximately $7,553,691.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Accenture news, insider Ellyn Shook sold 5,000 shares of Accenture stock in a transaction on 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 sale, the insider now owns 20,316 shares of the company’s stock, valued at approximately $7,553,691.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Joel Unruch sold 4,333 shares of Accenture stock in a transaction on Friday, April 19th. The shares were sold at an average price of $316.12, for a total value of $1,369,747.96. Following the sale, the general counsel now directly owns 30,702 shares in the company, valued at approximately $9,705,516.24. The disclosure for this sale can be found here. Insiders sold 39,833 shares of company stock worth $13,645,871 in the last 90 days. 0.07% of the stock is currently owned by company insiders.

Accenture Trading Down 0.2 %

Shares of ACN opened at $316.80 on Wednesday. The firm has a market cap of $212.49 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.01 and a beta of 1.19. The stock has a 50 day moving average of $353.29 and a 200-day moving average of $342.40. Accenture plc has a 52 week low of $261.68 and a 52 week high of $387.51.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, topping the consensus estimate of $2.66 by $0.11. The company had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.85 billion. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.69 EPS. On average, sell-side analysts predict that Accenture plc will post 12.09 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 11th will be given 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 yield of 1.63%. Accenture’s dividend payout ratio is currently 46.78%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group raised their price objective on Accenture from $365.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Guggenheim started coverage on Accenture in a report on Tuesday, March 19th. They set a “buy” rating and a $425.00 target price on the stock. Morgan Stanley raised their target price on Accenture from $400.00 to $417.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Mizuho reiterated a “buy” rating and set a $398.00 target price (down from $426.00) on shares of Accenture in a report on Friday, March 22nd. Finally, Royal Bank of Canada raised their target price on Accenture from $374.00 to $381.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $387.00.

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.