Eagle Rock Investment Company LLC Has $901,000 Stock Position in Accenture plc (NYSE:ACN)

Eagle Rock Investment Company LLC cut its stake in shares of Accenture plc (NYSE:ACN) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,561 shares of the information technology services provider’s stock after selling 63 shares during the period. Eagle Rock Investment Company LLC’s holdings in Accenture were worth $901,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in shares of Accenture during the third quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the 3rd quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Accenture by 607.1% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock worth $35,000 after acquiring an additional 85 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Accenture in the 3rd quarter valued at approximately $39,000. Finally, Reston Wealth Management LLC bought a new position in shares of Accenture during the third quarter valued at $51,000. 75.14% of the stock is currently owned by institutional investors.

Insider Transactions at Accenture

In related news, insider Angela Beatty sold 375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.50, for a total transaction of $134,437.50. Following the completion of the sale, the insider now owns 5,149 shares in the company, valued at approximately $1,845,916.50. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryoji Sekido sold 3,191 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $343.70, for a total transaction of $1,096,746.70. Following the completion of the transaction, the chief executive officer now owns 6 shares in the company, valued at approximately $2,062.20. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,125 shares of company stock worth $9,570,260 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Accenture Price Performance

ACN opened at $350.92 on Friday. The firm’s fifty day moving average price is $357.85 and its two-hundred day moving average price is $344.97. The company has a market capitalization of $219.60 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 3.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. Accenture plc has a 1 year low of $278.69 and a 1 year high of $387.51.

Accenture (NYSE:ACN) last posted its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 EPS for the quarter, beating the consensus estimate of $3.43 by $0.16. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The firm had revenue of $17.69 billion during the quarter, compared to analyst estimates of $17.15 billion. During the same quarter last year, the business posted $3.27 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, analysts anticipate that Accenture plc will post 12.69 earnings per share for the current fiscal year.

Accenture declared that its Board of Directors has approved a share repurchase plan on Thursday, September 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Accenture Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, January 16th will be paid a $1.48 dividend. The ex-dividend date is Thursday, January 16th. This represents a $5.92 dividend on an annualized basis and a yield of 1.69%. Accenture’s dividend payout ratio (DPR) is presently 49.66%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ACN shares. Barclays increased their price objective on Accenture from $350.00 to $415.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Piper Sandler Companies reissued a “neutral” rating and issued a $329.00 price target on shares of Accenture in a research note on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Robert W. Baird reiterated a “neutral” rating and set a $370.00 price target on shares of Accenture in a report on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their price target on Accenture from $390.00 to $425.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $385.04.

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.