Wishbone Management LP Takes Position in Accenture PLC $ACN

Wishbone Management LP bought a new stake in Accenture PLC (NYSE:ACN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 135,000 shares of the information technology services provider’s stock, valued at approximately $36,220,000. Accenture makes up 15.5% of Wishbone Management LP’s holdings, making the stock its 4th largest position.

Several other large investors have also modified their holdings of ACN. Brighton Jones LLC boosted its holdings in shares of Accenture by 36.2% in the 4th quarter. Brighton Jones LLC now owns 18,438 shares of the information technology services provider’s stock valued at $6,486,000 after buying an additional 4,905 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Accenture by 46.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,066 shares of the information technology services provider’s stock valued at $618,000 after buying an additional 660 shares in the last quarter. United Bank boosted its holdings in shares of Accenture by 49.8% in the 2nd quarter. United Bank now owns 3,639 shares of the information technology services provider’s stock valued at $1,088,000 after buying an additional 1,209 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Accenture by 23.0% in the 2nd quarter. Bank of Nova Scotia now owns 828 shares of the information technology services provider’s stock valued at $247,000 after buying an additional 155 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Accenture by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,767 shares of the information technology services provider’s stock valued at $528,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Stock Up 1.4%

ACN stock opened at $169.95 on Friday. Accenture PLC has a one year low of $155.82 and a one year high of $317.30. The stock has a market capitalization of $113.09 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.34 and a current ratio of 1.34. The company has a fifty day moving average of $181.79 and a 200-day moving average of $221.83.

Accenture (NYSE:ACN) last released its earnings results on Friday, March 20th. The information technology services provider reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The company had revenue of $18.04 billion during the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the business earned $2.82 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Accenture PLC will post 13.87 EPS for the current year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 9th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, April 9th. Accenture’s dividend payout ratio (DPR) is 53.40%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer set a $201.00 target price on shares of Accenture in a report on Monday. Piper Sandler set a $282.00 price target on shares of Accenture in a research note on Thursday, March 5th. Truist Financial cut shares of Accenture from a “buy” rating to a “hold” rating and decreased their price target for the stock from $260.00 to $210.00 in a research note on Monday, June 1st. Robert W. Baird decreased their price target on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Finally, BMO Capital Markets decreased their price target on shares of Accenture from $300.00 to $230.00 and set a “market perform” rating for the company in a research note on Friday, March 20th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus price target of $259.89.

Insider Activity at Accenture

In other news, CEO Atsushi Egawa sold 4,872 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $177.14, for a total value of $863,026.08. Following the completion of the sale, the chief executive officer owned 12,802 shares in the company, valued at approximately $2,267,746.28. This trade represents a 27.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.02% of the company’s stock.

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.