Mascagni Wealth Management Inc. Buys New Position in Accenture plc (NYSE:ACN)

Mascagni Wealth Management Inc. acquired a new stake in shares of Accenture plc (NYSE:ACN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 465 shares of the information technology services provider’s stock, valued at approximately $164,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. DSG Capital Advisors LLC purchased a new stake in Accenture during the 4th quarter valued at approximately $269,000. Chancellor Financial Group WB LP purchased a new position in Accenture in the 4th quarter valued at approximately $381,000. 111 Capital purchased a new position in Accenture in the 4th quarter valued at approximately $1,796,000. Members Wealth LLC purchased a new position in Accenture in the 4th quarter valued at approximately $261,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in Accenture during the 4th quarter valued at $72,926,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Joel Unruch sold 3,563 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.78, for a total transaction of $1,003,982.14. Following the completion of the transaction, the general counsel now owns 17,237 shares of the company’s stock, valued at approximately $4,857,041.86. The trade was a 17.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Angela Beatty sold 169 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $281.90, for a total transaction of $47,641.10. Following the transaction, the insider now directly owns 5,364 shares of the company’s stock, valued at approximately $1,512,111.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,516 shares of company stock valued at $2,507,366. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACN. Stifel Nicolaus lowered their target price on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler cut their price objective on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets lifted their target price on shares of Accenture to $355.00 and gave the company a “hold” rating in a report on Wednesday, March 26th. Robert W. Baird upgraded Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price target for the company in a report on Monday, March 17th. Finally, Wall Street Zen cut shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $382.14.

Accenture Stock Performance

Accenture stock opened at $316.13 on Thursday. The company has a market cap of $198.00 billion, a PE ratio of 26.52, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a fifty day moving average price of $302.27 and a two-hundred day moving average price of $339.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35.

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

Accenture Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, April 10th. 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.