Accenture PLC (NYSE:ACN) Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC boosted its stake in shares of Accenture PLC (NYSE:ACN) by 136.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,601 shares of the information technology services provider’s stock after purchasing an additional 923 shares during the quarter. Gallacher Capital Management LLC’s holdings in Accenture were worth $500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACN. Norges Bank acquired a new position in Accenture during the 4th quarter valued at approximately $2,351,683,000. GAMMA Investing LLC raised its stake in Accenture by 30,256.8% during the 1st quarter. GAMMA Investing LLC now owns 3,421,519 shares of the information technology services provider’s stock valued at $1,067,651,000 after acquiring an additional 3,410,248 shares in the last quarter. Wellington Management Group LLP raised its stake in Accenture by 22.8% during the 4th quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider’s stock valued at $4,283,225,000 after acquiring an additional 2,260,740 shares in the last quarter. Capital Research Global Investors raised its stake in Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider’s stock valued at $4,325,526,000 after acquiring an additional 1,770,024 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Accenture by 10.7% during the 4th quarter. Northern Trust Corp now owns 7,582,344 shares of the information technology services provider’s stock valued at $2,667,393,000 after acquiring an additional 732,769 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, CEO Mauro Macchi sold 500 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $141,170.00. Following the completion of the sale, the chief executive officer owned 2,283 shares of the company’s stock, valued at $644,582.22. The trade was a 17.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Angela Beatty sold 203 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $282.34, for a total value of $57,315.02. Following the completion of the sale, the insider directly owned 5,249 shares of the company’s stock, valued at $1,482,002.66. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock worth $1,646,780 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACN has been the topic of several recent analyst reports. Piper Sandler cut their target price on Accenture from $364.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on Accenture from $349.00 to $353.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Benchmark reissued a “mixed” rating on shares of Accenture in a research note on Friday, June 20th. 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 research note on Tuesday, June 24th. Finally, Argus set a $370.00 price objective on Accenture in a research note on Tuesday, June 24th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Accenture currently has an average rating of “Moderate Buy” and a consensus price target of $365.43.

Accenture Stock Performance

Shares of NYSE ACN opened at $282.37 on Monday. The business’s 50-day moving average price is $306.32 and its two-hundred day moving average price is $324.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. Accenture PLC has a one year low of $273.19 and a one year high of $398.35. The company has a market capitalization of $176.86 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

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

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 10th will be given a $1.48 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 2.10%. Accenture’s dividend payout ratio is currently 47.13%.

Accenture 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.