3,501 Shares in Accenture PLC $ACN Bought by Rayburn West Financial Services LLC

Rayburn West Financial Services LLC purchased a new position in Accenture PLC (NYSE:ACN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,501 shares of the information technology services provider’s stock, valued at approximately $939,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in Accenture in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC purchased a new stake in Accenture in the fourth quarter worth $27,000. Triumph Capital Management purchased a new position in Accenture during the third quarter valued at $26,000. Private Wealth Management Group LLC lifted its position in Accenture by 96.4% during the fourth quarter. Private Wealth Management Group LLC now owns 108 shares of the information technology services provider’s stock valued at $29,000 after buying an additional 53 shares during the period. Finally, Steph & Co. lifted its position in Accenture by 107.5% during the fourth quarter. Steph & Co. now owns 110 shares of the information technology services provider’s stock valued at $30,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other news, CEO Atsushi Egawa sold 4,872 shares of Accenture stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the transaction, the chief executive officer owned 12,802 shares of the company’s stock, valued at $2,267,746.28. The trade was a 27.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ACN has been the subject of several recent research reports. TD Cowen lowered their price objective on Accenture from $282.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Morgan Stanley lowered their price objective on Accenture from $320.00 to $240.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Berenberg Bank initiated coverage on Accenture in a research report on Thursday, January 22nd. They set a “buy” rating and a $313.00 price objective for the company. Truist Financial lowered their price objective on Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Piper Sandler set a $282.00 price objective on Accenture in a research report on Thursday, March 5th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.50.

Accenture Price Performance

ACN opened at $159.68 on Thursday. The stock has a 50-day moving average price of $192.27 and a 200-day moving average price of $232.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market cap of $106.26 billion, a PE ratio of 13.08, a P/E/G ratio of 1.61 and a beta of 1.08. Accenture PLC has a 1 year low of $155.82 and a 1 year high of $324.00.

Accenture (NYSE:ACN) last posted its quarterly earnings results on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $18.04 billion during the quarter, compared to analyst estimates of $17.80 billion. Accenture had a return on equity of 26.33% and a net margin of 10.61%.Accenture’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. Sell-side analysts predict that Accenture PLC will post 13.87 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 9th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.

Accenture Company Profile

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.