Alpha Cubed Investments LLC Has $363,000 Position in Accenture plc (NYSE:ACN)

Alpha Cubed Investments LLC raised its stake in Accenture plc (NYSE:ACN) by 23.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,035 shares of the information technology services provider’s stock after purchasing an additional 195 shares during the period. Alpha Cubed Investments LLC’s holdings in Accenture were worth $363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MONECO Advisors LLC increased its holdings in shares of Accenture by 388.7% in the fourth quarter. MONECO Advisors LLC now owns 8,161 shares of the information technology services provider’s stock valued at $2,864,000 after purchasing an additional 6,491 shares during the last quarter. Mission Wealth Management LP boosted its position in shares of Accenture by 2.7% in the fourth quarter. Mission Wealth Management LP now owns 4,850 shares of the information technology services provider’s stock valued at $1,702,000 after acquiring an additional 128 shares during the period. Certuity LLC boosted its position in shares of Accenture by 2.3% in the fourth quarter. Certuity LLC now owns 1,356 shares of the information technology services provider’s stock valued at $476,000 after acquiring an additional 30 shares during the period. Islay Capital Management LLC boosted its position in shares of Accenture by 30.7% in the fourth quarter. Islay Capital Management LLC now owns 2,134 shares of the information technology services provider’s stock valued at $749,000 after acquiring an additional 501 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its position in shares of Accenture by 1.6% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 34,877 shares of the information technology services provider’s stock valued at $12,239,000 after acquiring an additional 564 shares during the period. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ellyn Shook sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the transaction, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Accenture news, insider Ellyn Shook sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $307.22, for a total transaction of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jean-Marc Ollagnier sold 6,250 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $315.91, for a total transaction of $1,974,437.50. Following the sale, the chief executive officer now directly owns 161,581 shares of the company’s stock, valued at approximately $51,045,053.71. The disclosure for this sale can be found here. Insiders sold 31,639 shares of company stock valued at $10,276,287 over the last quarter. 0.07% of the stock is owned by company insiders.

Accenture Trading Down 0.0 %

Shares of NYSE ACN opened at $300.82 on Wednesday. The company has a market cap of $201.77 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.87 and a beta of 1.19. Accenture plc has a 12 month low of $261.68 and a 12 month high of $387.51. The stock has a 50-day moving average price of $347.09 and a two-hundred day moving average price of $342.34.

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. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.85 billion. During the same quarter in the previous year, the firm earned $2.69 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts predict that Accenture plc will post 12.09 earnings per share for the current year.

Accenture Dividend Announcement

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 paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, April 10th. Accenture’s dividend payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

ACN has been the subject of a number of recent research reports. Bank of America boosted their target price on shares of Accenture from $379.00 to $419.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Citigroup reduced their target price on shares of Accenture from $430.00 to $400.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. StockNews.com cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird upped their price objective on shares of Accenture from $364.00 to $375.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Finally, Piper Sandler upped their price objective on shares of Accenture from $335.00 to $394.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.