3,144 Shares in Accenture plc (NYSE:ACN) Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC purchased a new position in Accenture plc (NYSE:ACN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,144 shares of the information technology services provider’s stock, valued at approximately $1,090,000.

Other hedge funds have also made changes to their positions in the company. Chilton Capital Management LLC lifted its holdings in shares of Accenture by 180.0% in the 4th quarter. Chilton Capital Management LLC now owns 70 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Accenture during the 4th quarter valued at $27,000. Ables Iannone Moore & Associates Inc. bought a new stake in Accenture during the 4th quarter valued at $29,000. Halpern Financial Inc. bought a new stake in Accenture during the 4th quarter valued at $31,000. Finally, Grayhawk Investment Strategies Inc. bought a new stake in Accenture during the 4th quarter valued at $35,000. Institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In other Accenture news, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the completion of the sale, the insider now owns 13,699 shares of the company’s stock, valued at $4,208,606.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO John F. Walsh sold 8,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $332.13, for a total transaction of $2,657,040.00. Following the completion of the transaction, the chief operating officer now owns 17,877 shares of the company’s stock, valued at approximately $5,937,488.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ellyn Shook sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $307.22, for a total value of $1,536,100.00. Following the transaction, the insider now directly owns 13,699 shares of the company’s stock, valued at approximately $4,208,606.78. The disclosure for this sale can be found here. Insiders sold 28,083 shares of company stock valued at $8,959,325 over the last quarter. Insiders own 0.07% of the company’s stock.

Accenture Trading Up 0.2 %

NYSE ACN traded up $0.66 on Tuesday, reaching $286.19. The stock had a trading volume of 2,196,005 shares, compared to its average volume of 2,638,849. The business has a 50 day moving average price of $303.42 and a 200 day moving average price of $338.41. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51. The company has a market capitalization of $191.96 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 3.12 and a beta of 1.22.

Accenture (NYSE:ACN) last issued its earnings results on Thursday, March 21st. The information technology services provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.11. Accenture had a return on equity of 28.30% and a net margin of 10.89%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.85 billion. During the same quarter in the previous year, the company posted $2.69 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts anticipate that Accenture plc will post 12.08 earnings per share for the current fiscal year.

Accenture Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, April 11th were given a $1.29 dividend. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 1.80%. Accenture’s dividend payout ratio is currently 46.78%.

Wall Street Analyst Weigh In

ACN has been the topic of several recent analyst reports. Wedbush cut their target price on Accenture from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 12th. TD Cowen cut their target price on Accenture from $350.00 to $294.00 and set a “hold” rating on the stock in a research note on Tuesday, June 11th. Barclays dropped their price objective on Accenture from $390.00 to $350.00 and set an “overweight” rating on the stock in a research note on Monday. Redburn Atlantic boosted their price objective on Accenture from $410.00 to $445.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Mizuho dropped their price objective on Accenture from $398.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $360.50.

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.