Orion Capital Management LLC Invests $99,000 in Accenture plc (NYSE:ACN)

Orion Capital Management LLC acquired a new position in shares of Accenture plc (NYSE:ACN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 282 shares of the information technology services provider’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACN. FPC Investment Advisory Inc. grew its stake in Accenture by 62.2% in the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Accenture in the 4th quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Accenture in the 4th quarter valued at $30,000. POM Investment Strategies LLC grew its stake in Accenture by 64.2% in the 4th 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 period. Finally, Promus Capital LLC acquired a new stake in Accenture in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 75.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Guggenheim decreased their price objective on Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Royal Bank of Canada decreased their price objective on Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Mizuho decreased their price objective on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a report on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Accenture presently has an average rating of “Moderate Buy” and a consensus target price of $381.76.

Accenture Trading Down 0.7%

Shares of ACN stock opened at $317.98 on Thursday. The stock has a market cap of $199.16 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 3.23 and a beta of 1.35. Accenture plc has a twelve month low of $275.01 and a twelve month high of $398.35. The company’s 50-day moving average price is $302.56 and its 200-day moving average price is $340.66. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

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

Accenture Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 10th were issued a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.86%. Accenture’s dividend payout ratio (DPR) is currently 48.89%.

Insider Activity at Accenture

In other Accenture news, CEO Julie Spellman Sweet sold 2,284 shares of Accenture stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the completion of the transaction, the chief executive officer now directly owns 9,965 shares of the company’s stock, valued at $2,806,442.95. The trade was a 18.65% decrease in their position. 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 Accenture stock in a transaction dated Friday, April 11th. The shares were 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 approximately $1,512,111.60. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,516 shares of company stock worth $2,507,366. Company insiders own 0.02% of the company’s stock.

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.