Accenture plc (NYSE:ACN) Shares Bought by MV Capital Management Inc.

MV Capital Management Inc. lifted its stake in shares of Accenture plc (NYSE:ACN) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,850 shares of the information technology services provider’s stock after buying an additional 290 shares during the quarter. MV Capital Management Inc.’s holdings in Accenture were worth $3,074,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FPC Investment Advisory Inc. raised its position 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 purchasing an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $30,000. POM Investment Strategies LLC increased its holdings in shares of 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 purchasing an additional 34 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Accenture in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ACN shares. Barclays cut their price target on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Robert W. Baird raised shares of Accenture from a “neutral” rating to an “outperform” rating and set a $390.00 price objective on the stock in a research note on Monday, March 17th. UBS Group restated a “buy” rating and issued a $395.00 target price (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Guggenheim reduced their target price on shares of Accenture from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, BMO Capital Markets upped their target price on shares of Accenture to $355.00 and gave the company a “hold” rating in a report on Wednesday, March 26th. Seven research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $382.14.

Insiders Place Their Bets

In other news, General Counsel Joel Unruch sold 3,563 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $281.78, for a total value of $1,003,982.14. Following the transaction, the general counsel now owns 17,237 shares in the company, valued at $4,857,041.86. This represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Julie Spellman Sweet sold 2,284 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were 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 owns 9,965 shares in the company, valued at $2,806,442.95. This represents a 18.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,516 shares of company stock worth $2,507,366. Company insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Accenture stock opened at $320.79 on Wednesday. The company has a market cap of $200.92 billion, a PE ratio of 26.91, a P/E/G ratio of 3.23 and a beta of 1.33. The company has a fifty day moving average price of $303.55 and a two-hundred day moving average price of $336.54. 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 issued its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.81 by $0.01. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same period in the previous year, the business earned $2.77 earnings per share. Accenture’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Thursday, April 10th were issued a dividend of $1.48 per share. The ex-dividend date was Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 1.85%. Accenture’s payout ratio is presently 48.89%.

Accenture Company 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.