Troy Asset Management Ltd Has $22.64 Million Holdings in Accenture plc (NYSE:ACN)

Troy Asset Management Ltd trimmed its position in shares of Accenture plc (NYSE:ACN) by 24.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,355 shares of the information technology services provider’s stock after selling 20,972 shares during the period. Accenture accounts for 0.8% of Troy Asset Management Ltd’s investment portfolio, making the stock its 26th biggest holding. Troy Asset Management Ltd’s holdings in Accenture were worth $22,639,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc acquired a new position in Accenture in the 3rd quarter worth about $25,000. FPC Investment Advisory Inc. raised its position in Accenture by 62.2% during the fourth quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider’s stock valued at $28,000 after acquiring an additional 28 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Accenture in the fourth quarter worth $30,000. POM Investment Strategies LLC grew its stake in 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 buying an additional 34 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in Accenture in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Activity

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $354.54, for a total transaction of $527,200.98. Following the transaction, the chief accounting officer now owns 9,247 shares of the company’s stock, valued at approximately $3,278,431.38. This represents a 13.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Julie Spellman Sweet sold 2,497 shares of Accenture stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.48, for a total value of $885,136.56. Following the completion of the sale, the chief executive officer now directly owns 28,866 shares of the company’s stock, valued at $10,232,419.68. This trade represents a 7.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,905 shares of company stock valued at $8,181,753 over the last three months. 0.02% of the stock is owned by insiders.

Accenture Stock Performance

NYSE ACN opened at $304.32 on Friday. Accenture plc has a 1-year low of $278.69 and a 1-year high of $398.35. The company has a 50 day moving average of $354.96 and a 200-day moving average of $355.97. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. The firm has a market cap of $190.44 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.23 and a beta of 1.24.

Accenture (NYSE:ACN) last issued its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.01. The firm had revenue of $16.70 billion during the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.77 EPS. On average, equities analysts forecast that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio is presently 48.89%.

Wall Street Analyst Weigh In

ACN has been the topic of several research analyst reports. Barclays lowered their price target on Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. StockNews.com lowered Accenture from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Wolfe Research raised shares of Accenture from a “peer perform” rating to an “outperform” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group raised shares of Accenture from a “neutral” rating to a “buy” rating and increased their price target for the company from $370.00 to $420.00 in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Accenture currently has a consensus rating of “Moderate Buy” and an average price target of $378.23.

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.