Bancreek Capital Management LP Has $3.73 Million Stock Position in Accenture PLC (NYSE:ACN)

Bancreek Capital Management LP lowered its position in shares of Accenture PLC (NYSE:ACN) by 14.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,965 shares of the information technology services provider’s stock after selling 2,010 shares during the quarter. Accenture accounts for about 5.6% of Bancreek Capital Management LP’s holdings, making the stock its 14th largest position. Bancreek Capital Management LP’s holdings in Accenture were worth $3,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACN. Visionary Wealth Advisors boosted its position in shares of Accenture by 3.5% in the fourth quarter. Visionary Wealth Advisors now owns 778 shares of the information technology services provider’s stock worth $274,000 after buying an additional 26 shares during the period. Vivaldi Capital Management LP boosted its position in Accenture by 3.6% during the 4th quarter. Vivaldi Capital Management LP now owns 782 shares of the information technology services provider’s stock worth $292,000 after acquiring an additional 27 shares during the period. Nemes Rush Group LLC grew its stake in Accenture by 7.5% during the 4th quarter. Nemes Rush Group LLC now owns 418 shares of the information technology services provider’s stock valued at $147,000 after acquiring an additional 29 shares in the last quarter. United Community Bank lifted its position in shares of Accenture by 1.5% in the fourth quarter. United Community Bank now owns 2,069 shares of the information technology services provider’s stock worth $728,000 after purchasing an additional 30 shares in the last quarter. Finally, Tradition Wealth Management LLC boosted its holdings in shares of Accenture by 0.3% during the fourth quarter. Tradition Wealth Management LLC now owns 10,981 shares of the information technology services provider’s stock worth $3,863,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 75.14% of the company’s stock.

Accenture Price Performance

Shares of NYSE:ACN opened at $302.56 on Wednesday. The company has a market cap of $189.50 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 2.93 and a beta of 1.30. The business has a 50 day moving average price of $308.79 and a 200 day moving average price of $330.60. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Accenture PLC has a twelve month low of $273.19 and a twelve month high of $398.35.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Friday, June 20th. The information technology services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.17. The company had revenue of $17.73 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Accenture had a return on equity of 26.55% and a net margin of 11.61%. Accenture’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.13 earnings per share. Research analysts predict 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 will be paid on Friday, August 15th. Investors of record on Thursday, July 10th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, July 10th. This represents a $5.92 annualized dividend and a yield of 1.96%. Accenture’s dividend payout ratio is 47.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACN shares. Wall Street Zen downgraded shares of Accenture from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Barclays reduced their price objective on Accenture from $390.00 to $360.00 and set an “overweight” rating for the company in a research report on Monday, June 23rd. Mizuho set a $348.00 target price on Accenture and gave the stock an “outperform” rating in a research report on Tuesday, June 24th. Baird R W upgraded Accenture from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Finally, Morgan Stanley dropped their price objective on Accenture from $340.00 to $325.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Accenture currently has a consensus rating of “Moderate Buy” and an average target price of $370.71.

Insider Transactions at Accenture

In other news, CEO Julie Spellman Sweet sold 2,284 shares of the stock in a transaction on 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 owned 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Joel Unruch sold 3,563 shares of the stock in a transaction dated Friday, April 11th. The stock was 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 directly owned 17,237 shares of the company’s stock, valued at $4,857,041.86. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,516 shares of company stock worth $2,507,366 over the last 90 days. 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.