Burling Wealth Partners LLC Takes $388,000 Position in Accenture plc (NYSE:ACN)

Burling Wealth Partners LLC acquired a new position in shares of Accenture plc (NYSE:ACN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,102 shares of the information technology services provider’s stock, valued at approximately $388,000.

Other hedge funds also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new position in Accenture during the 3rd quarter worth approximately $25,000. SkyView Investment Advisors LLC grew its holdings in shares of Accenture by 1.9% during the third quarter. SkyView Investment Advisors LLC now owns 1,796 shares of the information technology services provider’s stock valued at $635,000 after buying an additional 33 shares in the last quarter. Anchor Investment Management LLC raised its position in Accenture by 8.4% during the third quarter. Anchor Investment Management LLC now owns 6,135 shares of the information technology services provider’s stock valued at $2,169,000 after buying an additional 474 shares during the period. Arvest Bank Trust Division acquired a new stake in Accenture during the 3rd quarter worth about $18,115,000. Finally, Wilmington Savings Fund Society FSB grew its stake in Accenture by 2.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 41,175 shares of the information technology services provider’s stock valued at $14,555,000 after acquiring an additional 1,015 shares in the last quarter. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 169 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at $1,512,111.60. This trade represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Melissa A. Burgum sold 232 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $394.46, for a total transaction of $91,514.72. Following the completion of the sale, the chief accounting officer now directly owns 8,915 shares in the company, valued at $3,516,610.90. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,041 shares of company stock valued at $5,254,956. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Mizuho cut their target price on shares of Accenture from $428.00 to $398.00 and set an “outperform” rating for the company in a research report on Wednesday, March 19th. Morgan Stanley lowered their price target on shares of Accenture from $380.00 to $372.00 and set an “equal weight” rating on the stock in a report on Monday, March 17th. UBS Group cut their price objective on Accenture from $455.00 to $387.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Guggenheim lowered their target price on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.82.

Accenture Stock Performance

Shares of NYSE ACN opened at $291.43 on Friday. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.17. The company has a market cap of $182.53 billion, a P/E ratio of 24.45, a P/E/G ratio of 3.23 and a beta of 1.32. The business’s 50 day moving average is $318.01 and its two-hundred day moving average is $347.71.

Accenture (NYSE:ACN) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.77 EPS. On average, equities analysts expect that Accenture plc will post 12.73 EPS for the current year.

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 2.03%. Accenture’s dividend payout ratio (DPR) is 48.89%.

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.