Accenture PLC (NYSE:ACN) Shares Bought by Field & Main Bank

Field & Main Bank grew its holdings in shares of Accenture PLC (NYSE:ACN) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,800 shares of the information technology services provider’s stock after buying an additional 280 shares during the period. Field & Main Bank’s holdings in Accenture were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Accenture during the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in Accenture in the 4th quarter valued at about $30,000. Park Square Financial Group LLC acquired a new stake in shares of Accenture during the 4th quarter worth about $31,000. Promus Capital LLC acquired a new position in shares of Accenture in the fourth quarter valued at approximately $34,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Accenture during the fourth quarter valued at approximately $34,000. 75.14% of the stock is currently owned by hedge funds and other institutional investors.

Accenture Stock Performance

NYSE:ACN opened at $300.66 on Wednesday. Accenture PLC has a 1-year low of $273.19 and a 1-year high of $398.35. The stock has a market cap of $188.31 billion, a P/E ratio of 23.94, a PEG ratio of 2.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.48. The firm has a 50-day moving average of $307.33 and a two-hundred day moving average of $332.81.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.17. Accenture had a return on equity of 26.55% and a net margin of 11.61%. The company had revenue of $17.73 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the business earned $3.13 EPS. Accenture’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that Accenture PLC will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a yield of 1.97%. Accenture’s dividend payout ratio (DPR) is 47.13%.

Insider Transactions at Accenture

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Accenture from $399.00 to $392.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Guggenheim cut their target price on Accenture from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday. Barclays lowered their price target on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets reduced their price objective on Accenture from $355.00 to $325.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Morgan Stanley dropped their target price on shares of Accenture from $340.00 to $325.00 and set an “equal weight” rating for the company in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Accenture currently has an average rating of “Moderate Buy” and an average target price of $370.75.

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.