DT Investment Partners LLC Raises Stock Position in Accenture plc (NYSE:ACN)

DT Investment Partners LLC increased its holdings in shares of Accenture plc (NYSE:ACN) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,067 shares of the information technology services provider’s stock after purchasing an additional 121 shares during the period. DT Investment Partners LLC’s holdings in Accenture were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ACN. Morse Asset Management Inc purchased a new position in shares of Accenture during the third quarter worth $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Accenture during the third quarter valued at $30,000. POM Investment Strategies LLC grew its position in Accenture by 64.2% during the fourth 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 period. Retirement Wealth Solutions LLC acquired a new stake in Accenture during the fourth quarter valued at $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in Accenture by 607.1% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the information technology services provider’s stock valued at $35,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insider Buying and Selling

In other Accenture news, insider Angela Beatty sold 375 shares of Accenture stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $358.50, for a total value of $134,437.50. Following the transaction, the insider now directly owns 5,149 shares in the company, valued at approximately $1,845,916.50. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Angie Y. Park sold 685 shares of Accenture stock in a transaction on Friday, January 17th. The shares were sold at an average price of $354.38, for a total transaction of $242,750.30. Following the completion of the transaction, the chief financial officer now owns 8,674 shares in the company, valued at approximately $3,073,892.12. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,280 shares of company stock worth $8,316,190 in the last ninety days. 0.02% of the stock is owned by corporate insiders.

Accenture Price Performance

ACN stock opened at $389.71 on Friday. The business’s 50-day moving average is $364.15 and its two-hundred day moving average is $353.43. 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 $398.35. The firm has a market capitalization of $243.88 billion, a P/E ratio of 32.69, a P/E/G ratio of 3.44 and a beta of 1.24.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, December 19th. The information technology services provider reported $3.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.16. The business had revenue of $17.69 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.27 EPS. Analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Thursday, January 16th will be given a dividend of $1.48 per share. The ex-dividend date is Thursday, January 16th. This represents a $5.92 annualized dividend and a dividend yield of 1.52%. Accenture’s dividend payout ratio (DPR) is currently 49.66%.

Analysts Set New Price Targets

ACN has been the topic of several analyst reports. Robert W. Baird restated a “neutral” rating and set a $370.00 price target on shares of Accenture in a research report on Tuesday, December 3rd. Piper Sandler lifted their target price on shares of Accenture from $422.00 to $429.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on shares of Accenture from $370.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. The Goldman Sachs Group upgraded shares of Accenture from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $370.00 to $420.00 in a research report on Friday, December 6th. Finally, BMO Capital Markets lifted their target price on shares of Accenture from $390.00 to $425.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $387.22.

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.