Accenture plc (NYSE:ACN) Stock Position Increased by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC grew its stake in Accenture plc (NYSE:ACN - Free Report) by 81.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,585 shares of the information technology services provider's stock after purchasing an additional 18,180 shares during the period. Accenture makes up about 1.9% of Abacus FCF Advisors LLC's portfolio, making the stock its 7th biggest position. Abacus FCF Advisors LLC's holdings in Accenture were worth $14,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ACN. Morse Asset Management Inc bought a new stake in Accenture in the third quarter worth about $25,000. FPC Investment Advisory Inc. lifted its stake in shares of Accenture by 62.2% during the 4th quarter. FPC Investment Advisory Inc. now owns 73 shares of the information technology services provider's stock worth $28,000 after acquiring an additional 28 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Accenture during the 4th quarter valued at $30,000. POM Investment Strategies LLC increased its stake in Accenture by 64.2% in the fourth quarter. POM Investment Strategies LLC now owns 87 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 34 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Accenture during the fourth quarter worth $34,000. Institutional investors own 75.14% of the company's stock.

Accenture Stock Down 0.6 %

NYSE ACN traded down $1.68 during trading on Friday, hitting $283.54. The company's stock had a trading volume of 5,017,701 shares, compared to its average volume of 3,006,013. Accenture plc has a fifty-two week low of $275.01 and a fifty-two week high of $398.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $177.59 billion, a PE ratio of 23.79, a P/E/G ratio of 3.23 and a beta of 1.32. The business's 50 day simple moving average is $336.60 and its 200-day simple moving average is $352.00.

Remove Ads

Accenture (NYSE:ACN - Get Free Report) last released its earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.01. The company had revenue of $16.70 billion for the quarter, compared to the consensus estimate of $16.64 billion. Accenture had a net margin of 11.41% and a return on equity of 26.91%. Accenture's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.77 EPS. On average, equities analysts anticipate that Accenture plc will post 12.73 EPS for the current fiscal year.

Accenture Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.92 annualized dividend and a yield of 2.09%. Accenture's payout ratio is presently 48.89%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ACN shares. Stifel Nicolaus decreased their price objective on shares of Accenture from $390.00 to $380.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Wolfe Research raised shares of Accenture from a "peer perform" rating to an "outperform" rating and set a $425.00 price target for the company in a research note on Wednesday, January 8th. Jefferies Financial Group dropped their price objective on Accenture from $385.00 to $355.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on Accenture from $370.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Finally, Mizuho dropped their price target on Accenture from $428.00 to $398.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 19th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $378.23.

Insider Transactions at Accenture

In other Accenture news, CAO Melissa A. Burgum sold 1,487 shares of Accenture stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $354.54, for a total transaction of $527,200.98. Following the completion of the sale, the chief accounting officer now directly owns 9,247 shares in the company, valued at approximately $3,278,431.38. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Angela Beatty sold 961 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $354.47, for a total transaction of $340,645.67. Following the completion of the sale, the insider now owns 5,484 shares in the company, valued at $1,943,913.48. The trade was a 14.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,905 shares of company stock worth $8,181,753 over the last three months. 0.02% of the stock is currently owned by insiders.

Accenture Company 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.