Scissortail Wealth Management LLC Increases Position in Accenture plc (NYSE:ACN)

Scissortail Wealth Management LLC increased its stake in shares of Accenture plc (NYSE:ACN) by 10,671.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 754 shares of the information technology services provider’s stock after purchasing an additional 747 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Accenture were worth $265,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. FPC Investment Advisory Inc. lifted its position in shares of Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Accenture during the 4th quarter worth approximately $30,000. POM Investment Strategies LLC lifted its position in Accenture by 64.2% during the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 34 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Accenture in the fourth quarter valued at approximately $34,000. Finally, Promus Capital LLC purchased a new position in Accenture in the fourth quarter worth $34,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective for the company in a report on Monday, March 17th. Piper Sandler decreased their price target on Accenture from $364.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada dropped their price target on Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Jefferies Financial Group decreased their price objective on shares of Accenture from $385.00 to $355.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, Guggenheim dropped their target price on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.76.

Insider Buying and Selling

In other news, COO John F. Walsh sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $325.00, for a total value of $812,500.00. Following the transaction, the chief operating officer now owns 15,882 shares in the company, valued at $5,161,650. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,516 shares of company stock worth $2,507,366 in the last 90 days. Insiders own 0.02% of the company’s stock.

Accenture Trading Down 1.8%

Shares of Accenture stock opened at $317.45 on Friday. The firm has a 50-day simple moving average of $302.60 and a two-hundred day simple moving average of $341.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. The company has a market cap of $198.83 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.35.

Accenture (NYSE:ACN) last announced its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. During the same period in the prior year, the company posted $2.77 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts predict that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were paid a dividend of $1.48 per share. The ex-dividend date was Thursday, April 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.86%. Accenture’s dividend payout ratio is currently 48.89%.

Accenture Profile

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.